Trump speaks out for the first time about his memecoin

The US President was surprised to learn that TRUMP had reached a market capitalization of several billion dollars, becoming the fastest growing memecoin in the history of the crypto industry.

US President Donald Trump spoke out for the first time about TRUMP, the memecoin he launched last weekend and has created a stir in the crypto investment community.

Specifically, while participating in a discussion with SoftBank founder Masayoshi Son, OpenAI CEO Sam Altman and Oracle founder Larry Ellison, Mr. Trump was asked by reporters about the topic of the digital currency memecoin. The new US President said: “I don’t know much about it except that I agreed to launch it. I heard it was very successful but I haven’t checked further.”

When a reporter added that TRUMP had reached a market capitalization of several billion dollars in just a few days, Mr. Trump joked back, “A few billion dollars? It's just a few pennies to these gentlemen here." - referring to the billionaires he was talking to.

During the press conference, Mr. Trump, along with SoftBank, OpenAI and Oracle, announced the launch of Stargate, a $500 billion joint venture of these companies to develop AI infrastructure.

As reported, on January 18, Mr. Trump shocked the crypto world when he announced the launch of an official memecoin on Solana, with the code TRUMP. The community quickly fomo this token, helping its market capitalization increase to nearly $15 billion in just 48 hours, becoming the fastest growing memecoin in the history of the cryptocurrency industry.

However, just 2 days later, the Trump family continued to announce another memecoin, MELANIA, named after the First Lady of the United States. The move has drawn criticism from the community, who say that the memecoin team behind the President is trying to dilute the value of the project to gain more profits, affecting TRUMP's capitalization.

After his first day in office without mentioning any specific crypto policy, TRUMP's price at one point dropped more than 30%, before recovering strongly at the time of writing after the US President's first official comment on the existence of his own memecoin.