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Fortune

Leo Schwartz

Trump's surprise memecoin explodes to nearly $7 billion

Barron Trump Donald Trump Inauguration United States Crypto blockchain

(Credit: Scott Olson—Getty Images)

On Friday night, President-elect Donald Trump posted on his social media platform, Truth Social. “My NEW Official Trump Meme is HERE!” read the post, with an accompanying link and a picture of the incoming president, fist raised with “Fight Fight Fight’ superimposed on the image.

While crypto watchers speculated online whether Trump had been hacked, an accompanying post on Trump coin is the 27th largest cryptocurrency by market cap.

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