'Brazen grift': Trump ripped over crypto 'rugpull' scheme now valued at $32 billion

President-elect Donald Trump has now found yet another way to convince his followers to throw their money his way — this time with a questionable cryptocurrency venture.
Axios is reporting that the soon-to-be 47th president of the United States has rolled out a "meme coin" dubbed $TRUMP, which is being billed as the "only official Trump meme." According to Axios, $TRUMP has already accumulated a valuation of roughly $32 billion. And because the Trump Organization is keeping 80% of the coins, this means the president-elect and his businesses are roughly $25 billion richer as a result.
Techdirt writer Mike Masnick wrote on Bluesky that the meme coin's market cap topped $9 billion in less than 12 hours, and that it soon jumped to $15 billion just hours later. As of 1:30 PM Eastern Time, the coin is trading at nearly $30 per unit.