President-elect Donald Trump has launched a new cryptocurrency token that's soaring in value and potentially boosting his net worth. It comes just before his second inauguration and it’s the latest norm-defying promotion by the incoming president, who's also helped sell branded bibles, gold sneakers and diamond-encrusted watches.
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In promoting the meme coin, Trump told supporters to “Have Fun!” The website selling the tokens says they are meant as expressions of support and not an investment opportunity. Memo coins are a strange and highly volatile corner of the crypto industry that often start as a joke with no real value but can surge in price if enough people are willing to buy them. Dogecoin, the cryptocurrencyis a super-cute dog that muses things like “much wow,” is perhaps the most well known. Meme coins can be used by scammers looking to make a quick fortune at the expense of unwary investors.
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