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The elected president of the United States, Donald Trump, has launched his own cryptocurrency, a move that has quickly caught the attention of the global financial market. The token, named $Trump, experienced a meteoric rise in its market capitalization, reaching several billion dollars within hours of its launch. This venture has been managed by CIC Digital LLC, a subsidiary of the Trump Organization previously known for marketing products such as shoes and fragrances under the Trump brand.
The adventure of cryptocurrency emerges at a crucial moment, just before Trump officially assumes the presidency as the 47th president of the United States. The introduction of $Trump has faced criticism, with experts warning about the volatility of the so-called *meme coins*, currencies that lack intrinsic value and whose worth can fluctuate wildly due to speculation.
Through his platform Truth Social, Trump urged his followers to celebrate what he referred to as the embodiment of "everything we fought for: winning." The token's website mentions that approximately 200 million of these digital tokens have already been issued, with plans to release another 800 million in the next three years. However, the same website warns that the token is not intended to be an investment and is not associated with any political campaign or government agency.
This move has sparked criticism from those who accuse Trump of exploiting the presidency for personal gain. Nick Tomaino, a venture capitalist in the cryptocurrency sector, stated that the launch being close to the presidential inauguration is opportunistic and likely detrimental to many investors.
In a context marked by political tensions, the U.S. Supreme Court has supported legislation that threatens to suspend TikTok's operations in the country due to national security concerns. The app, owned by ByteDance, faces a potential halt to its activities in the country if it does not separate from its Chinese parent company before the established deadline. This ruling comes at a time of significant political transition, just before Trump takes office.
Trump, who during his first term already attempted to ban TikTok, now faces the responsibility of implementing this regulation with a stance that seems more conciliatory compared to his previous approach. The outgoing Biden administration has shifted the implementation of the law to the new term, forcing Trump to navigate between internal pressures from his party and the service's popularity in the country.
The political context in the United States is rife with uncertainties, with a new administration set to take the reins of the country and critical decisions that could redefine the American stance in areas such as technology, national security, and immigration. The cryptocurrency $Trump and the potential ban on TikTok are just a few of the issues that will test Trump's leadership ability in his second term.
Frequently asked questions about the cryptocurrency $Trump and the situation of TikTok in the U.S.
What is the cryptocurrency $Trump?
The cryptocurrency $Trump is a token launched by Donald Trump, the elected president of the United States. It has experienced a meteoric rise in market capitalization, reaching billions of dollars shortly after its launch. It was created by CIC Digital LLC, a subsidiary of the Trump Organization, and an initial amount of 200 million tokens has been issued.
Why has the launch of $Trump been criticized?
The launch of $Trump has faced criticism due to the volatility of cryptocurrencies, especially so-called *meme coins*, which lack intrinsic value and can wildly fluctuate due to speculation. Experts also believe that the launch is opportunistic, as it occurs just before Trump takes office, which could personally benefit the elected president at the expense of investors.
¿Cuál es la situación actual de TikTok en Estados Unidos?
TikTok faces a potential shutdown in the United States due to a law requiring its parent company, ByteDance, to sell its stake to a U.S.-approved buyer by January 19, 2025. The measure is backed by national security concerns and could result in the application becoming unavailable in the country if the deadline is not met.
How is Donald Trump addressing the TikTok situation?
Donald Trump has taken a more conciliatory stance towards TikTok compared to his first term, when he attempted to ban the app. He has proposed a possible extension of the deadline to allow ByteDance to find a suitable buyer or reach an agreement that would enable TikTok to continue operating safely in the United States.
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