A decentralized finance business formed by Trump’s sons Eric and Don Jr. in response to their claims of being de-banked by the banking system will start trading its coin on September 1. The lockbox starts the unlock procedure. Once you’ve claimed your tokens, you’re free to trade or keep holding, the choice is yours.
The market debut arrives as the significant bitcoin price surge has doubled the total crypto market over the past year to reach $4 trillion for the first time. It commenced trading this week on the decentralized exchange Hyperliquid at $0.44. The price experienced a significant drop alongside bitcoin and the broader market, but subsequently rebounded, resulting in a fully diluted value of approximately $40 billion, calculated from the token’s total supply of 100 billion. Launched last year, marketed to investors as a governance cryptocurrency that enabled holders to vote, but it was not tradable. “Today’s the day,” Trump posted to his Truth Social account in October last year in the run-up to the November election that catapulted him back into the White House alongside a link to where it could be bought.
The sale experienced a sluggish beginning but gained momentum after Trump’s election win, fueled by increasing anticipation that trading restrictions would be lifted as the Trump administration rolled back regulatory scrutiny of the bitcoin and crypto landscape. In March, it had raised $250 million in its second token sale, increasing the total amount sold $550 million. Then, in July, the trading ban was lifted following a vote by holders. Earlier this month, the Nasdaq-listed announced plans to establish a $1.5 billion treasury, with Eric Trump joining board. This move aligns with the growing trend of companies incorporating cryptocurrencies into their corporate treasuries, aiming to replicate the success seen by Michael Saylor’s strategy with its substantial bitcoin holdings. Despite the performance of Trump’s memecoin (and the even more disappointing results of his wife Melania’s), the Trump family continues to stand by bitcoin and crypto.
“There’s no question in my mind that bitcoin hits $1 million,” Trump stated this week at the Bitcoin Asia conference in Hong Kong, sharing the stage with David Bailey. Bailey organized the conference where Trump pledged to establish a U.S. bitcoin strategic reserve in July last year and currently heads a bitcoin acquisition company named Nakamoto. “And by the way, I don’t think it has to stop there. I believe it has the potential to increase significantly,” Eric stated.