The U.S. President Trump has issued a $100 billion cryptocurrency.

By: blockbeats|2025/01/18 14:00:03

This morning, Trump personally appeared at Solana to launch a meme coin named TRUMP after himself. As of the time of writing, the market cap of TRUMP has surpassed 10 billion USD.

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It was this image that, within 4 hours, created a new record in crypto history. Never before has a new coin achieved a staggering 20 billion USD in on-chain value within 4 hours.

At a time when cryptocurrency memes related to elections had long faded, Trump, using his official account and creating historic data, announced his arrival in the crypto world. The market also welcomed him with open arms, as evidenced by the 20 billion USD in trading volume.

This is an absolute boon for the cryptocurrency industry. A crypto meme with a total market cap of 10 billion USD has broken through the market ceiling, expanding the realm of possibilities for funding. At this point, what this coin can actually do is no longer important. Everyone just needs to understand that when the U.S. president personally launches a coin, the significance of this action for the crypto industry far exceeds imagination.

Next Monday, Trump will officially begin his second term as President of the United States. After an expensive election season, the crypto industry has finally welcomed its own president.

Thanks to Trump's commitment to establish a strategic Bitcoin reserve, his victory has given Bitcoin significant momentum. Meanwhile, Ethereum ecosystem infrastructure applications led by AAVE also shone brightly during the "Trump rally" in December last year, with the market believing that ETH is poised to reach new highs in the upcoming market.

However, some industry insiders now believe that Trump's inauguration may bring even greater benefits to networks like Solana, which focus more on real-world use cases rather than reserve assets.

In the week leading up to Trump's inauguration, SOL's price rose by 19%. On January 16, according to the New York Post cited by @tier10k, Trump has an "open mind" about the idea of digital currencies issued in the United States (such as Solana, USD Coin, and Ripple) serving as strategic reserves. After this news spread, SOL's price further rose by 5%.

"When hearing these rumors, one should be skeptical unless this information comes directly from Trump himself or his team," Griff wrote in a post on X platform yesterday. "You should also consider why these details are appearing in the media—who might be putting them there?"

Trump's Crypto New Policy Boosts SOL

Reuters reported that, according to three sources familiar with the matter, senior Republican officials at the SEC plan to start a comprehensive overhaul of the agency's cryptocurrency policy as early as next week, after Trump takes office.

Two of the sources stated that Commissioners Hester Peirce and Mark Uyeda are considering measures including: initiating a process to develop guidance or rules to clarify under what circumstances the agency would consider a cryptocurrency a security, and reviewing some cryptocurrency enforcement cases currently in litigation.

In 2023, the SEC sued Coinbase and Binance, alleging that these cryptocurrency exchanges were acting as unregistered brokers by facilitating trades of various tokens including SOL.

By defining SOL as a security, the SEC led by Gary Gensler indicated that U.S. companies trading the token would be breaking the law, as the SEC has only issued two special-purpose broker-dealer licenses, neither of which offer SOL trading.

Although the SEC has dropped the charges against Solana in the lawsuit against Binance, if the enforcement action against Coinbase is also halted, a major obstacle the network faced would be removed.

Possibility of SOL ETF?

As concerns over Solana's unregistered security status subside, some have begun looking towards the prospect of a SOL ETF, which could see a regulated Solana investment vehicle listed for trading on public stock exchanges. Predictions on Polymarket suggest a 75% likelihood of an approved SOL ETF by 2025, but Leah Wald, CEO of Sol Strategies, stated in a recent interview that she does not believe a Solana ETF will be approved in the near term.

Under the Trump presidency and in a more crypto-friendly regulatory environment, Solana may also receive a more qualitatively immeasurable intangible benefit.

Titus Capilnean, VP of Market Expansion at Civic Technologies, stated that while the regulatory status of SOL remains unclear, developers are mainly focusing on driving meme coin transactions, which is "actually a form of protest against unclear SEC regulations."

Capilnean points out that with the advent of Trump, the crypto industry "may shift from mere speculation to growth driven by utility, with developers having more confidence to launch more complex applications without worrying about encountering regulatory resistance."

Over the past year, many American Solana developers have indicated that if regulation becomes clear, the opportunity for their products to find market fit will significantly increase. Now is the moment for them to prove this.

This morning's TRUMP may be a proof of this concept. "Wildness" has always been Trump's label. By personally issuing a coin and choosing a chain like Solana with a broad grassroots base, especially after the precedent of GME, the power of retail investors is worth imagining.