US President-elect Donald Trump has launched his own cryptocurrency, which quickly soared in market capitalisation to several billion dollars.
His release of the meme coin, $Trump, comes as he prepares to take office on Monday as 47th president of the US.
By Saturday afternoon, hours after its launch, the market capitalisation for $Trump reached nearly $5.5bn (£4.5bn), according to CoinMarketCap.com.
CIC Digital LLC and Fight Fight Fight LLC, a company formed in Delaware earlier this month, own 80% of the tokens. It is unclear how much money Trump might make from the venture.
Source: BBC
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