Kate Leinbaugh

Because they're so popular and easy to make, meme coins have also become a vehicle for scams. One of these scams is sometimes called a rug pull. Basically, someone launches a new coin, they hype it up, convince other people to buy it, and then they sell, raking in the profits and tanking the coin price for everyone else. All of which is to say, meme coins don't have the greatest reputation.

Because they're so popular and easy to make, meme coins have also become a vehicle for scams. One of these scams is sometimes called a rug pull. Basically, someone launches a new coin, they hype it up, convince other people to buy it, and then they sell, raking in the profits and tanking the coin price for everyone else. All of which is to say, meme coins don't have the greatest reputation.

OK, so tell us about this coin that Trump launched last Friday, the night of the crypto ball.

OK, so tell us about this coin that Trump launched last Friday, the night of the crypto ball.

OK, so tell us about this coin that Trump launched last Friday, the night of the crypto ball.

Trump announced the launch on his Truth Social platform. He posted, quote, get your Trump now. The price of the token immediately soared. In the first hours of trading, one Trump coin could go for $7, $10, and then $20. But as more people jumped in, the price climbed even higher to $30, $40, then $70. On Sunday, the Trump coin had an almost $15 billion market cap.

Trump announced the launch on his Truth Social platform. He posted, quote, get your Trump now. The price of the token immediately soared. In the first hours of trading, one Trump coin could go for $7, $10, and then $20. But as more people jumped in, the price climbed even higher to $30, $40, then $70. On Sunday, the Trump coin had an almost $15 billion market cap.

Trump announced the launch on his Truth Social platform. He posted, quote, get your Trump now. The price of the token immediately soared. In the first hours of trading, one Trump coin could go for $7, $10, and then $20. But as more people jumped in, the price climbed even higher to $30, $40, then $70. On Sunday, the Trump coin had an almost $15 billion market cap.

For the people who bought this coin, why did they do it? Why did they think it was a good move? I thought these kinds of coins are jokes.

For the people who bought this coin, why did they do it? Why did they think it was a good move? I thought these kinds of coins are jokes.

For the people who bought this coin, why did they do it? Why did they think it was a good move? I thought these kinds of coins are jokes.

What did the surging price of this coin mean for Trump himself?

What did the surging price of this coin mean for Trump himself?

What did the surging price of this coin mean for Trump himself?

Trump is now a crypto billionaire because entities associated with him own 80% of the supply of Trump coins.

Trump is now a crypto billionaire because entities associated with him own 80% of the supply of Trump coins.

Trump is now a crypto billionaire because entities associated with him own 80% of the supply of Trump coins.

But Trump's ballooning crypto wealth was about to receive a hit. And from an unlikely source, his wife, Melania Trump.

But Trump's ballooning crypto wealth was about to receive a hit. And from an unlikely source, his wife, Melania Trump.

But Trump's ballooning crypto wealth was about to receive a hit. And from an unlikely source, his wife, Melania Trump.