About 200 million digital tokens have been issued, and another 800 million will be issued in the next three years, according to the coin’s website.
“This Trump meme celebrates a leader who doesn’t back down, no matter what,” the site says.
It included a disclaimer stating that the coin is “not intended to be or the subject of” an investment opportunity or security and is “not political and has nothing to do” with any political campaign, political office or government agency.
Critics have accused Trump of cashing in on the presidency, with one crypto commentator calling the meme coin “predatory.”
“Trump owning 80 percent of the stock and launching hours before the inauguration is predatory, and many are likely to suffer as a result,” Nick Tomaina, a crypto venture capitalist and former head of Coinbase, one of the largest crypto trading platforms, said in a statement in social networks.
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 prices fall.
Cryptocurrency investors are hoping that the Trump administration will provide a major boost to the industry.
President Joe Biden’s regulators cited fraud and money laundering concerns when they cracked down on crypto companies by suing exchanges.
Trump has been dismissive of cryptocurrency in the past.
But at a Bitcoin conference in Nashville last year, he said America would be the “crypto capital of the planet” when he returned to Washington.
His sons Eric and Donald Jr. announced their own crypto venture last year.
