President-elect Donald Trump took the cryptocurrency world by storm with the surprise launch of his own digital currency, $TRUMP Coin. The announcement came via his Truth Social and X accounts just days before his inauguration, shaking up a $3.5 trillion industry and positioning Trump as a pro-crypto leader.

Within hours of its unveiling, $TRUMP Coin experienced an unprecedented surge, climbing from just a few cents to a peak of $33.87—a staggering 18,000% gain. Though the price later settled around $26, the token’s market capitalization exceeded $5 billion, earning it a place among the top 30 cryptocurrencies globally.

The launch announcement coincided with the inaugural Crypto Ball in Washington, D.C., where prominent crypto CEOs, political figures, and members of Trump’s team were in attendance. Skepticism initially surrounded the announcement, with some attendees suspecting a hack. However, Trump’s son, Donald Trump Jr., confirmed the authenticity of the launch, sharing excitement on social media.

The $TRUMP Coin is categorized as a "meme coin," a speculative asset often created as a parody or for entertainment. Despite skepticism around the utility of such tokens, many investors have reaped significant returns, with reports of individuals turning modest investments into millions overnight. Yet, the coin’s ownership structure—controlled primarily by Trump-affiliated entities—has raised regulatory concerns. Critics argue it could attract scrutiny from lawmakers like Senator Elizabeth Warren, who has been vocal about the risks of the crypto industry.

Trump’s pledge to make America the “crypto capital of the planet” has drawn both praise and criticism. Loyal supporters see the move as a bold endorsement of blockchain technology and meme culture, while detractors view it as an opportunistic cash grab. Major exchanges like Kraken have already listed $TRUMP Coin, signaling widespread interest despite the controversy.

Interestingly, the timing of the coin’s release coincided with the departure of SEC Chairman Gary Gensler, known for his regulatory crackdowns on digital assets. Trump’s incoming pick, Paul Atkins, is expected to adopt a more crypto-friendly approach, potentially easing regulatory pressures on the industry.

Regardless of the debates surrounding its ethics and implications, $TRUMP Coin has already made an indelible mark on the crypto landscape, cementing its place in history as one of the most dramatic token launches to date.