Trump meme coin gives crypto greenlight to return to days of NFT bubble
A cartoon image of US President-elect Donald Trump holding a Bitcoin token to mark the cryptocurrency reaching over $100,000 displayed at a Coinhero store in Hong Kong, China, on in Hong Kong, China, on Thursday, Dec. 5, 2024.
Paul Yeung | Bloomberg | Getty Images
President Trump’s return the White House is expected to usher in a golden, if chaotic, age of crypto in the U.S., according to Bernstein.
Over the weekend Trump launched a meme coin, “Official Trump,” that rose to a market cap of $73 billion in two days before a 50% drawdown. The move came just as Gary Gensler, an opponent of crypto startups in his harsh enforcement approach as the head of the Securities and Exchange Commission, left his post.
One day after the Trump coin was…
