Donald Trump rose to prominence in the cryptocurrency world a few weeks ago. But there’s still no official digital currency. His son suggests that could change.
Will Donald Trump issue his own cryptocurrency or token?
There are of course Trump-related tokens on the cryptocurrency market. The former president also has his own NFT collection. However, it is possible that this is just the beginning of something bigger.
Donald Trump Jr., the presidential candidate’s son and chairman of The Trump Organization, posted an intriguing post on X:
I love how the crypto community is embracing Trump. It’s absolutely amazing, but beware of fake tokens that claim to be part of the “Trump” project.
He further added that “the only official project will be announced directly by us.”
Don’t be fooled – stay tuned to see the real deal
– he concluded his post.
So this is a preview of some broader blockchain project. It is not known whether the plans only include a token or a cryptocurrency (and therefore a new blockchain) for Trump. We are to learn the details soon. The question is, why would Trump need something like this?
Is this about money?
Today, Trump is talked about in the context of politics. He is an entrepreneur. His entire family has a business empire behind it. It is possible that the latter will want to make money on the election campaign of the family elder. Or maybe the former president himself wants to raise additional funds for his campaign. Especially since he needs a financial boost.
At the end of July, it was announced that the Democratic Party had raised as much as $200 million for Kamala Harris’ campaign. And that in just 7 days! In June, when Joe Biden was still running for the White House, $127 million was paid into his campaign account. At that time, the Democrats’ account already had a total of $240 million.
Trump has raised $327 million for his campaign so far. The pace of his fundraising is slowing. In July, he received $139 million from donors (Harris, let me remind you, received $200 million, and that was in just one week).
Of course, money is not everything in a campaign. But it does matter. And maybe that’s where the idea came from to launch “TrumpCoin” and raise additional funds from bitcoin fans.
