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Cryptopolitan 2025-01-29 14:27:34

Trump-branded stores now accept TRUMP memecoin for payments

Trump-branded stores now accept TRUMP memecoin for payments

Trump supporters can now buy Trump-branded watches, sneakers, and colognes using the official Trump memecoin, as of January 29. Multiple online stores licensing Trump’s name—GetTrumpWatches.com, GetTrumpFragrances.com, and GetTrumpSneakers.com—have started accepting $TRUMP as a payment method, alongside Bitcoin and credit cards. The controversial memecoin was launched on January 17 and was promoted directly by Trump across social media. Since then, its price has seen wild swings but still held a market cap of $5.4 billion as of press time, according to data from CoinGecko. Businesses jump on the Trump memecoin Travala.com , a crypto-friendly travel booking platform, is among the businesses to add TRUMP as a payment option. While most memecoins exist purely for speculation, the sheer number of merchants accepting Trump’s token right now shows an attempt to give it practical use. Customers who want to spend their TRUMP must use Solana Pay at checkout. According to data from Solscan, the memecoin currently has around 700,000 holders. As Cryptopolitan reported yesterday, trading activity around the coin has already generated at least $11.4 million in fees for Trump-affiliated entities since its launch. The team behind it owns 80% of the total supply, meaning they could cash out billions if they offload their holdings. However, per on-chain data, they’re locked for another three years at least. Some traditional analysts think Trump’s crypto policies could now be complicated by the fact that he personally profits from the market. At a press conference on January 22, when asked about his coin raising billions, Trump shrugged it off: “Several billion? That’s peanuts for these guys,” pointing toward the tech billionaires in the room. The ‘crypto president’ also somewhat distanced himself from the project, saying, “I don’t know much about it other than I launched it, other than it was very successful.” Within the crypto community, however, many see TRUMP and the memecoin his wife launched shortly after (MELANIA) as rug pulls. Investors have lost millions and there are currently a ton of short sellers in both tokens. If the First Lady hadn’t launched her own token, many believe TRUMP would’ve surpassed $200 by now. Instead, it’s stuck below $30, and MELANIA is under $2 after making an all-time high of $12. Expectations of the president promoting the token directly any time soon are almost non-existent now. Cryptopolitan Academy: Are You Making These Web3 Resume Mistakes? - Find Out Here

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