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Trump’s Meme Coin Soars on Inauguration Day, Sending Ripple Through the Crypto Market

Donald Trump’s newly unveiled cryptocurrency, known as $TRUMP, has sparked a wave of excitement in the market. On Monday, the token surged to a market cap surpassing $10 billion, and the fervour surrounding Trump’s crypto-friendly stance temporarily boosted Bitcoin to a fresh all-time high.

Launched just hours before his swearing-in on Friday night, Trump’s so-called “meme coin” started under $10, but within hours, it skyrocketed, reaching as high as $74.59 by Sunday. However, the price corrected on Monday, settling around $33.88, according to CoinGecko. In addition to the $TRUMP coin, another Trump-affiliated project, World Liberty Financial, announced that its initial token sale had raised a substantial $300 million, with plans to issue more tokens soon.

Trump’s growing involvement in the crypto world comes as many expect his administration to lead a new “golden age” for digital currencies, offering a sharp contrast to the stringent regulatory approach under former President Joe Biden. On inauguration day, Bitcoin hit an all-time high of $109,071, but by Monday, it had retraced slightly, trading around $101,867.40.

“The cryptocurrency market has gained traction in recent days, especially after the launch of the $TRUMP and $MELANIA tokens ahead of the inauguration,” commented Grzegorz Drozdz, a market analyst at Conotoxia Ltd. Both tokens, launched on the Solana blockchain, contributed to a price surge in Solana’s coin, which reached an all-time high of $294.33 on Sunday.

Despite the excitement, some analysts warn that we may be witnessing a “sell-the-news” moment. Matthew Dibb, chief investment officer at Astronaut Capital, predicted that further volatility is likely. “Bitcoin has already retreated… The market is bracing for more fluctuation and a potential selloff,” he said.

The $TRUMP coin initially traded below $10, but rapidly climbed, hitting $72.62 by Sunday, only to fall back to the low $30 range by Monday evening. According to the coin’s website, CIC Digital, a Trump-linked affiliate, controls 80% of the token supply, alongside another group named Fight, Fight, Fight. The coin is marketed as a symbol of support for Trump’s ideals, not as an investment or security.

Concerns over ethics and potential conflicts of interest have surfaced, especially with the launch of the $TRUMP token. Several members of Trump’s administration and inner circle are known to have connections to the crypto industry. “While it’s tempting to dismiss this as just another Trump spectacle, the launch of the official Trump token raises serious ethical and regulatory questions,” remarked Justin D’Anethan, an independent crypto analyst based in Hong Kong.

The Trump Organization has stated that the president will hand over the day-to-day management of his vast portfolio to his children when he enters the White House. Forbes estimates Trump’s net worth at $6.7 billion, excluding his crypto ventures.

The speculative nature of meme coins like $TRUMP, however, has raised alarms. As Drozdz pointed out, these types of cryptocurrencies are prone to significant price swings. “We generally view them as speculative assets,” he noted.

Trump’s $TRUMP token represents a fascinating intersection of digital assets and politics, but D’Anethan warns it could muddy the waters between governance, profit, and influence. “The launch of this coin creates a potential Pandora’s box of ethical dilemmas,” he said.

Despite the hype, the expected policy shifts in the crypto space, like the creation of a bitcoin strategic reserve and loosening regulations around digital assets, are likely to unfold over the coming months rather than days. Dibb concluded, “The market has high hopes for these changes, but they will likely be implemented gradually.”

Trump’s crypto ventures have already reshaped the digital landscape, and as his presidency unfolds, the $TRUMP coin and its impact on the crypto market will undoubtedly continue to raise eyebrows.

Forbes Middle East Unveils 100 Most Powerful Businesswomen Of 2025

Forbes Middle East has unveiled its much-anticipated 2025 ranking of the region’s top businesswomen, spotlighting influential leaders reshaping industries and driving meaningful transformation. The list was based on business size, individual accomplishments, leadership impact, and corporate social responsibility initiatives.

Top Spot For Hana Al Rostamani

For the third consecutive year, Hana Al Rostamani, Group CEO of First Abu Dhabi Bank (UAE’s largest bank by assets), claims the top position. In addition to retaining her position in the Forbes Middle East ranking, she was also featured on Forbes’ 2024 list of the World’s Most Powerful Women, securing the 60th position globally. Under her leadership, the bank achieved an impressive $3.5 billion in net profits and $334.8 billion in assets in the first nine months of 2024.

Rising Stars In The Top 10

Shaikha Khaled Al Bahar of NBK Group and Shaista Asif, cofounder and Group CEO of PureHealth Holding, take the second and third spots respectively, completing the top three.

The top 10 remains largely unchanged from last year, with Tayba Al Hashemi of ADNOC Offshore, Alisha Moopen of Aster DM Healthcare GCC, and Suzanne Al Anani of Dubai Aviation Engineering Projects (DAEP) making their debut in the top 10. In total, 27 new leaders have joined the list this year.

A Diverse And Powerful Group Of Women

This year’s list features 100 women from 32 sectors and 29 nationalities, underlining the diversity of talent driving the region’s progress. The banking and financial services sector leads with 25 entries, followed by healthcare and technology with nine each, and venture capital with five. Remarkably, 40% of the top 10 women are from the banking and financial services sector. Notably, Shaista Asif (PureHealth Holding) and Alisha Moopen (Aster DM Healthcare GCC) are the only non-Arab women in the top 10.

UAE Leads With 46 Leaders

The UAE continues to dominate, with 46 of the women on the list hailing from the country, solidifying its status as a global business hub. Egypt follows with 18 influential women, and Saudi Arabia claims nine entries. Egyptians lead in representation, followed by Emiratis and Lebanese women.

Empowering Women Through Initiatives

Several of the leaders have focused on upskilling and creating opportunities for women. Susana Rodriguez Puerta launched the ‘sAIdaty’ initiative in collaboration with the Dubai Business Women Council, aimed at providing 500 female council members in the UAE with AI skills. Similarly, Lamia Tazi of SOTHEMA collaborated with the Foundation for Research, Development, and Innovation in Science and Engineering to provide scholarships to PhD students from low-income backgrounds.

Click here for the full list.

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