The bitcoin rate set a new record on Monday, rising above $109 thousand before the inauguration of US President-elect Donald Trump.
During the election campaign, the politician publicly spoke in support of the cryptocurrency market, and traders expect him to ease regulations in this sector.
On Monday, the price of bitcoin rose to $109,241 thousand, Barron’s writes. According to CoinDesk, as of 10:00 a.m., the rate is $107.617 thousand.
Last weekend, Trump and his wife Melania launched their own cryptocurrencies on the Solana blockchain.
The politician himself introduced his TRUMP memecoin on the X social network and on his own platform, The Truth Social, on Saturday. At one point, the capitalization of this cryptocurrency rose to $15 billion, but fell below $8 billion after the launch of the MELANIA memecoin on Sunday, which diverted some of the funds of crypto investors.
The total number of TRUMP memecoins is limited to 1 billion, with 200 million tokens available initially, according to the official website. 80% of the memecoins are owned by CIC Digital, a subsidiary of the Trump
Organization, as well as Fight Fight Fight Fight LLC (corresponding to the Trump campaign slogan “Fight, fight, fight!”), in which CIC Digital is a co-owner.
CIC Digital used to sell Trump’s NFTs and campaign merchandise.
US President-elect Donald Trump has launched his own cryptocurrency, the market capitalization of which quickly soared to several billion dollars, the BBC reported on Sunday.
“Trump is launching $Trump meme coin as he prepares to take office as the 47th president of the United States on Monday, January 20. The venture is being coordinated by CIC Digital LLC, a subsidiary of the Trump Organization, which previously sold Trump-branded shoes and perfumes,” the BBC said.
It is noted that meme coins are used to increase the popularity of a viral Internet trend or movement, but they have no intrinsic value and are extremely volatile investments.
According to CoinMarketCap.com, by noon on Saturday, a few hours after the launch, $Trump had reached almost $5.5 billion.
CIC Digital LLC and Fight Fight Fight Fight LLC, founded in Delaware earlier this month, own 80% of the tokens. However, it is unclear how much money Trump can make from this venture.
“My new official Trump meme is here! It’s time to celebrate everything we stand for: victory,” Trump wrote on his Truth Social page, announcing the meme coins on the evening of January 17.
About 200 million digital tokens have already been issued, and another 800 million will be issued over the next three years, according to the cryptocurrency’s website. “This Trump meme honors a leader who doesn’t back down despite adversity,” the site says.
The BBC report also states that “the message also contains a disclaimer that the coin is ‘not intended to be the target’ of an investment opportunity or security, and ‘is not political’ and ”has no connection to any political campaign, political office or government agency.”
Such digital tokens are notorious for speculators using the hype to drive up the value before selling at the top of the market, leaving latecomers to count their losses as the price plummets. However, cryptocurrency investors are hopeful that the Trump administration will promote the industry.
President Joe Biden’s regulators have expressed concerns about fraud and money laundering as they cracked down on crypto companies by suing these exchanges.
In the past, Trump has not shown much favor for cryptocurrencies, but last year at a bitcoin conference in Nashville, he said that America would become the “crypto capital of the planet” when he returned to Washington.
His sons Eric and Donald Jr. announced their own cryptocurrency venture last year.
Switzerland is ready to host a meeting between Presidents Donald Trump and Vladimir Putin if they request it, Le Temps reported on Saturday, citing a Swiss Foreign Ministry spokesman.
“Since the Burgenstock summit, Ukraine, Russia and the United States have been regularly informed of our readiness to support any diplomatic efforts aimed at establishing peace,” Le Temps quoted Nicolas Bideau, head of the Foreign Ministry’s communications department, as saying.
The future US Special Envoy for Ukraine and Russia, Keith Kellogg, said that he aims to find a solution to end Russia’s war against Ukraine within the first 100 days of Donald Trump’s presidency.
“I think the biggest mistake that President Biden made is that he never engaged in conversations with Putin. I mean, he hasn’t talked to him in over two years. He needs to talk to him. That’s one of the great things that the president (Trump) is doing – he’s talking to both adversaries and allies,” Kellogg said on FOX News.
According to the general, Trump “really knows that you have to talk to people to get things done, and that’s what he’s going to do.”
“We will create the conditions for the president, and eventually he will be in a position to talk to President Putin and also to President Zelensky. And I think they will come to an acceptable decision in the short term. And when I say “in the short term,” you know, I would like to set a goal on a personal level, on a professional level. I would say let’s set 100 days,” Kellogg said.
US President-elect Donald Trump hopes to end Russia’s war against Ukraine within six months.
“I hope to have six months. I think I hope well before six months. Russia is losing a lot of young people, and so is Ukraine,” Trump said at a press conference in Mar-a-Lago, Florida, on Tuesday, referring to a timeline for ending the war.
He reiterated that this “war should never have been started.”
“This is a war that should never have happened. I guarantee you, if I were president, this war would never have happened,” Trump stated.
Earlier, Trump promised during his campaign to end Russia’s war against Ukraine in 24 hours.
Donald Trump has said that the United States absolutely needs to establish control over Greenland. He already wanted to buy the island during his first presidential term. He wrote about it on the social network Truth Social.
“For the purpose of national security and freedom around the world, the United States of America believes that possession and control of Greenland is an absolute necessity,” he wrote.
The publication reminds that the United States has repeatedly tried to buy Greenland, the world’s largest island that is not a continent, since 1867. Greenland is considered part of the continent of North America, but has close geopolitical ties with Europe and receives funding from the European Union, as it is classified as an overseas territory connected to the bloc through Denmark.
Greenland’s natural resources include gold, silver, copper, and uranium, and the waters off the coast are believed to contain significant oil reserves.
Trump put forward the idea of the US buying Greenland in 2019 during his first presidential term. At the time, Danish Prime Minister Mette Frederiksen rejected the proposal, calling it “absurd.” After that, Trump canceled his trip to Denmark.
