Buyers of watches, perfumes, sneakers, or digital collectible cards under Donald Trump’s brand will be eligible to claim 3 Official Trump (TRUMP) tokens, worth approximately $49.5.
Who Can Participate:
The airdrop is available to all who purchased official Trump merchandise before February 15. The number of items purchased does not affect the reward amount.
How to Claim:
The claim process will be open until March 1, after which the opportunity to receive tokens will be closed.
The Rise of TRUMP on the Blockchain
On January 18, Donald Trump launched the TRUMP token on the Solana blockchain. Despite a relatively quiet crypto market, the token’s price surged 220% in just 24 hours, reaching a fully diluted valuation (FDV) of $62 billion.
Major cryptocurrency exchanges quickly announced the listing of TRUMP, further fueling demand. The hype also contributed to SOL reaching an all-time high.
However, by January 21, TRUMP’s price had dropped 29.8% from its peak. The primary reason for the decline was the lack of any mention of cryptocurrencies in Trump’s inaugural speech. Investors had anticipated comments on digital assets and a potential national Bitcoin reserve, but Trump did not address these topics, leading to a wave of profit-taking.
Regulatory Scrutiny and Government Response
As TRUMP saw a meteoric rise and high volatility, the U.S. Congress began examining the ethical implications of Trump’s cryptocurrency initiatives. In February, the nonprofit organization Public Citizen urged the Department of Justice (DOJ) and the U.S. Office of Government Ethics to launch an official investigation into the TRUMP token.
Despite this, SEC Commissioner Hester Peirce previously stated that most meme coins do not fall under the SEC’s jurisdiction, which could complicate regulatory intervention.
Investor Losses
Earlier, TRUMP investors suffered total losses of around $2 billion. According to The New York Times, the downturn affected over 813,000 users.
Nevertheless, interest in the token remains high, particularly in the context of Trump’s upcoming election campaign and his team’s potential new digital asset initiatives.
