Key Points
- Donald Trump, once inaugurated as the 47th U.S. President, will be the first sitting U.S. leader to own meme coins.
- Trump, previously a crypto skeptic, publicly supported Bitcoin in 2024 and launched non-fungible tokens on Ethereum’s network.
Donald Trump, the GOP leader and billionaire businessman, will make history as the first U.S. President to possess meme coins after his inauguration.
According to a report by Arkham, Trump’s crypto wallet contains approximately $8 million worth of meme coins. This includes $5.5 million of TROG tokens, $1.5 million of a TRUMP meme, 1.3 billion GUA coins valued at nearly $400,000, and TRUMPIUS worth $167,000.
From Crypto Skeptic to Supporter
Trump, previously skeptical of cryptocurrencies, changed his stance in 2024. He publicly endorsed Bitcoin (BTC) and vowed to protect the right to own Bitcoin.
The business magnate ventured into non-fungible tokens (NFTs) on Ethereum’s (ETH) network, earning thousands of dollars in Ether from NFTs. At the time of publication, his wallet contained 496.77 ETH, valued at approximately $1.6 million.
Anticipated Regulatory Changes
There is widespread expectation and hope that Trump’s administration will introduce a comprehensive digital asset regulatory framework. His nominations, like Paul Atkins for SEC chair, and appointments such as David Sacks as crypto czar, hint at a crypto-centric approach.
Industry leaders reportedly made donations to Trump’s inauguration and urged him to sign an executive order within his first 100 days in office. This proposed order would establish a U.S. Bitcoin reserve.