Connect with us

Politics

Trump Begins Selling New Meme Coin Days Ahead of Inauguration

Published

on

Trump Begins Selling New Meme Coin Days Ahead of Inauguration

President-elect Donald J. Trump and his family on Friday started selling a cryptocurrency token featuring an image of Mr. Trump drawn from the July assassination attempt, a potentially lucrative new business that ethics experts assailed as a blatant effort to cash in on the office he is about to occupy again.

Disclosed just days before his second inauguration, the venture is the latest in a series of moves by Mr. Trump that blur the line between his government role and the continued effort by his family to profit from his power and global fame. It is yet another sign that the Trump family will be much less hesitant in this second term to bend or breach traditional ethical boundaries.

Mr. Trump himself announced the launch of his new business on Friday night on his social media platform, in between announcements about filling key federal government posts. He is calling the token $Trump, selling it with the slogan, “Join the Trump Community. This is History in the Making!”

The venture was organized by CIC Digital LLC, an affiliate of the Trump Organization, which already has been selling an array of other kinds of merchandise like Trump-branded sneakers, fragrances and even digital trading cards.

But this newest venture brings Mr. Trump and his family directly into the world of selling cryptocurrency, which is regulated by the Securities and Exchange Commission. Mr. Trump recently disclosed he intended to name a cryptocurrency advocate as S.E.C. chairman.

Advertisement

A disclosure on the website selling the tokens says that CIC Digital and its affiliates own 80 percent of the supply of the new Trump tokens that will be released gradually over the coming three years and that they will be paid “trading revenue” as the tokens are sold.

The move by Mr. Trump and his family was immediately condemned by ethics lawyers who said they could not recall a more explicit profiteering effort by an incoming president.

“It is literally cashing in on the presidency — creating a financial instrument so people can transfer money to the president’s family in connection with his office” said Adav Noti, executive director of Campaign Legal Center, a nonprofit ethics group. “It is beyond unprecedented.”

Eric Trump, who helps run Trump Organization business operations, said on Saturday that this offering was part of a new and growing business sector that the Trump family has entered.

“I am extremely proud of what we continue to accomplish in crypto,” Eric Trump said in a statement to The New York Times. “$Trump is currently the hottest digital meme on earth.” He added: “This is just the beginning.”

Advertisement

But even some in the cryptocurrency industry were quick to criticize the new token.

“Trump owning 80 percent and timing launch hours before inauguration is predatory and many will likely get hurt by it,” wrote Nick Tomaino, a crypto venture capitalist and former executive at Coinbase, one of the largest crypto trading platforms, in a social media posting on Saturday.

The president-elect and his three sons had, as of late last year, already lent their name to another cryptocurrency startup called World Liberty Financial, an arrangement that included a cut of token sales for the Trump family in exchange for helping promote the new brand.

But the members of the Trump family, with World Liberty Financial, were not actually owners of the platform or officers in the company.

There are other crypto currency coins in the marketplace based on Mr. Trump that are not directly affiliated with his family like the new Trump Meme. Typically, these so-called meme coins — which were born when coins were created as a joke inspired by an internet meme or cartoonish animal faces — are largely worthless and traded more like a hobby.

Advertisement

With this new venture, companies associated with Mr. Trump’s family have a direct financial stake in the value of the new tokens and in the volume of their sales, which quickly surged after going on the market.

“GetTrumpMemes.com is not political and has nothing to do with any political campaign or any political office or governmental agency,” the venture’s website says, adding, “Trump Memes are intended to function as an expression of support for, and engagement with, the ideals and beliefs embodied by the symbol ‘$TRUMP.’”

The legal disclosures say the tokens are not intended to be seen as “an investment opportunity, investment contract or security of any type.” But trading of them on cryptocurrency markets began immediately, driving up the value of each token from $7 to nearly $30 as of noon on Saturday.

This suggested that the so-called fully diluted value of all the tokens as of Saturday at noon was $30 billion, a number achieved less than a day after the token went on the market, according to CoinMarketCap, a site that tracks cryptocurrency trading.

Mr. Trump and his family are clear in the marketing of the new token that the image picked for the coin had been inspired by the July assassination attempt in Butler, Pa.

Advertisement

“President Trump faced death and came up fighting!” the website promoting the tokens says.

Cryptocurrency markets tend to be highly volatile, in part because tokens are not backed by any tangible assets. The website for Mr. Trump’s new venture includes an extensive collection of disclaimers limiting the ability of anyone buying the token to file a class-action lawsuit related to it and warning buyers that “Trump Memes may be extremely volatile, and price fluctuations in cryptocurrencies could impact the price.”

Mr. Trump has already made clear that he will be working to promote the cryptocurrency industry.

He has announced his intention to appoint regulators who will lift restrictions on the sale of new tokens and ties between cryptocurrency companies and other more traditional financial enterprises.

This stands in contrast to efforts by Biden-era regulators to tightly regulate the industry, out of a concern that a sudden crash in the value of cryptocurrency could potentially lead to a future financial crash.

Advertisement

Politics

Video: Protests Against ICE in Minneapolis Continue Into Friday Night

Published

on

Video: Protests Against ICE in Minneapolis Continue Into Friday Night

new video loaded: Protests Against ICE in Minneapolis Continue Into Friday Night

transcript

transcript

Protests Against ICE in Minneapolis Continue Into Friday Night

Hundreds of protesters marched through downtown Minneapolis on Friday night. They stopped at several hotels along the way to blast music, bang drums and play instruments to try to disrupt the sleep of immigration agents who might be staying there. Mayor Jacob Frey of Minneapolis said there were 29 arrests but that it was mostly a “peaceful protest.”

The vast majority of people have done this right. We are so deeply appreciative of them. But we have seen a few incidents last night. Those incidents are being reviewed, but we wanted to again give the overarching theme of what we’re seeing, which is peaceful protest. And we wanted to say when that doesn’t happen, of course, there are consequences. We are a safe city. We will not counter Donald Trump’s chaos with our own brand of chaos here. We in Minneapolis are going to do this right.

Advertisement
Hundreds of protesters marched through downtown Minneapolis on Friday night. They stopped at several hotels along the way to blast music, bang drums and play instruments to try to disrupt the sleep of immigration agents who might be staying there. Mayor Jacob Frey of Minneapolis said there were 29 arrests but that it was mostly a “peaceful protest.”

By McKinnon de Kuyper

January 10, 2026

Continue Reading

Politics

Trump says Venezuela has begun releasing political prisoners ‘in a BIG WAY’

Published

on

Trump says Venezuela has begun releasing political prisoners ‘in a BIG WAY’

NEWYou can now listen to Fox News articles!

President Donald Trump said Saturday that Venezuela has begun releasing political prisoners “in a BIG WAY,” crediting U.S. intervention for the move following last week’s American military operation in the country.

“Venezuela has started the process, in a BIG WAY, of releasing their political prisoners,” Trump wrote on Truth Social. “Thank you! I hope those prisoners will remember how lucky they got that the USA came along and did what had to be done.”

He added a warning directed at those being released: “I HOPE THEY NEVER FORGET! If they do, it will not be good for them.”

The president’s comments come one week after the United States launched Operation Absolute Resolve, a strike on Venezuela and capture of dictator Nicolás Maduro as well as his wife Cilia Flores, transporting them to the United States to face federal drug trafficking charges.

Advertisement

US WARNS AMERICANS TO LEAVE VENEZUELA IMMEDIATELY AS ARMED MILITIAS SET UP ROADBLOCKS

Government supporters in Venezuela rally in Caracas.  (AP Photo)

Following the military operation, Trump said the U.S. intends to temporarily oversee Venezuela’s transition of power, asserting American involvement “until such time as a safe, proper and judicious transition” can take place and warning that U.S. forces stand ready to escalate if necessary.

At least 18 political prisoners were reported freed as of Saturday and there is no comprehensive public list of all expected releases, Reuters reported.

Maduro and Flores were transported to New York after their capture to face charges in U.S. federal court. The Pentagon has said that Operation Absolute Resolve involved more than 150 aircraft and months of planning.

Advertisement

TRUMP ADMIN SAYS MADURO CAPTURE REINFORCES ALIEN ENEMIES ACT REMOVALS

A demonstrator holding a Venezuelan flag sprays graffiti during a march in Mexico City on Santurday. (Alfredo Estrella / AFP via Getty Images)

Trump has said the U.S. intends to remain actively involved in Venezuela’s security, political transition and reconstruction of its oil infrastructure.

The White House did not immediately respond to Fox News Digital’s request for comment.

President Donald Trump said Saturday that Venezuela has begun releasing political prisoners. (Mark Schiefelbein/AP Photo)

Advertisement

CLICK HERE TO DOWNLOAD THE FOX NEWS APP

Fox News Digital’s Morgan Phillips and Greg Norman-Diamond contributed to this reporting.

Advertisement
Continue Reading

Politics

Secretary of Defense Pete Hegseth tours Long Beach rocket factory

Published

on

Secretary of Defense Pete Hegseth tours Long Beach rocket factory

Secretary of Defense Pete Hegseth, who is taking a tour of U.S. defense contractors, on Friday visited a Long Beach rocket maker, where he told workers they are key to President Trump’s vision of military supremacy.

Hegseth stopped by a manufacturing plant operated by Rocket Lab, an emerging company that builds satellites and provides small-satellite launch services for commercial and government customers.

Last month, the company was awarded an $805-million military contract, its largest to date, to build satellites for a network being developed for communications and detection of new threats, such as hypersonic missles.

“This company, you right here, are front and center, as part of ensuring that we build an arsenal of freedom that America needs,” Hegseth told several hundred cheering workers. “The future of the battlefield starts right here with dominance of space.”

Advertisement

Founded in 2006 in New Zealand, the company makes a small rocket called Electron — which lay on its side near Hegseth — and is developing a larger one called Neutron. It moved to the U.S. a decade ago and opened its Long Beach headquaters in 2020.

Rocket Lab is among a new wave of companies that have revitalized Southern California’s aerospace and defense industry, which shed hundreds of thousands of jobs in the 1990s after the end of the Cold War. Large defense contractors such as Northrop Grumman and Lockheed Martin moved their headquarters to the East Coast.

Many of the new companies were founded by former employees of SpaceX, which was started by Elon Musk in 2002 and was based in the South Bay before moving to Texas in 2024. However, it retains major operations in Hawthorne.

Hegseth kicked off his tour Monday with a visit to a Newport News, Va., shipyard. The tour is described as “a call to action to revitalize America’s manufacturing might and re-energize the nation’s workforce.”

Long Beach Mayor Rex Richardson, a Democrat who said he was not told of the event, said Hegseth’s visit shows how the city has flourished despite such setbacks as the closure of Boeing’s C-17 Globemaster III transport plant.

Advertisement

“Rocket Lab has really been a superstar in terms of our fast, growing and emerging space economy in Long Beach,” Richardson said. “This emergence of space is really the next stage of almost a century of innovation that’s really taking place here.”

Prior stops in the region included visits to Divergent, an advanced manufacturing company in aerospace and other industries, and Castelion, a hypersonic missile startup founded by former SpaceX employees. Both are based in Torrance.

The tour follows an overhaul of the Department of Defense’s procurement policy Hegseth announced in November. The policy seeks to speed up weapons development and acquisition by first finding capabilities in the commercial market before the government attempts to develop new systems.

Trump also issued an executive order Wednesday that aims to limit shareholder profits of defense contractors that do not meet production and budget goals by restricting stock buybacks and dividends.

Hegseth told the workers that the administration is trying to prod old-line defense contractors to be more innovative and spend more on development — touting Rocket Lab as the kind of company that will succeed, adding it had one of the “coolest factory floors” he had ever seen.

Advertisement

“I just want the best, and I want to ensure that the competition that exists is fair,” he said.

Hegseth’s visit comes as Trump has flexed the nation’s military muscles with the Jan. 3 abduction of Venezuelan President Nicolás Maduro, who is now facing drug trafficking charges to which he has pleaded not guilty.

Hegseth in his speech cited Maduro’s capture as an example of the country’s newfound “deterrence in action.” Though Trump’s allies supported the action, legal experts and other critics have argued that the operation violated international and U.S. law.

Trump this week said he wants to radically boost U.S. military spending to $1.5 trillion in 2027 from $900 billion this year so he can build the “Dream Military.”

Hegseth told the workers it would be a “historic investment” that would ensure the U.S. is never challenged militarily.

Advertisement

Trump also posted on social media this week that executive salaries of defense companies should be capped at $5 million unless they speed up development and production of advanced weapons — in a dig at existing prime contractors.

However, the text of his Wednesday order caps salaries at current levels and ties future executive incentive compensation to delivery and production metrics.

Anduril Industries in Costa Mesa is one of the leading new defense companies in Southern California. The privately held maker of autonomous weapons systems closed a $2.5-billion funding round last year.

Founder Palmer Luckey told Bloomberg News he supported Trump’s moves to limit executive compensation in the defense sector, saying, “I pay myself $100,000 a year.” However, Luckey has a stake in Anduril, last valued by investors at $30.5 billion.

Peter Beck, the founder and chief executive of Rocket Lab, took a base salary of $575,000 in 2024 but with bonus and stock awards his total compensation reached $20.1 million, according to a securities filing. He also has a stake in the company, which has a market capitalization of about $45 billion.

Advertisement

Beck introduced Hegseth saying he was seeking to “reinvigorate the national industrial base and create a leaner, more effective Department of War, one that goes faster and leans on commercial companies just like ours.”

Rocket Lab boasts that its Electron rocket, which first launched in 2017, is the world’s leading small rocket and the second most frequently launched U.S. rocket behind SpaceX.

It has carried payloads for NASA, the U.S. Space Force and the National Reconnaissance Office, aside from commercial customers.

The company employs 2,500 people across facilities in New Zealand, Canada and the U.S., including in Virginia, Colorado and Mississippi.

Rocket Lab shares closed at $84.84 on Friday, up 2%.

Advertisement
Continue Reading

Trending