- Ark Invest CEO Cathie Wood told Bloomberg her asset management firm wouldn’t invest in President Donald Trump’s memecoin, $TRUMP. She said the firm doesn’t know "of much utility for this coin" and will stick to the big three: Bitcoin, Ethereum, and Solana.
Just days before taking office for the second time, $TRUMP had its moment that came and passed. On Jan. 17, Trump introduced the cryptocurrency, which initially soared in value. It briefly reached a market cap of nearly $15 billion, before plummeting to about $9 billion on Tuesday. On Thursday, the market cap had fallen even further to about $7.5 billion.
