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Published 01/20/2025 11:58 | Edited 01/20/2025 12:09
In his last address to the nation, delivered on Wednesday (15) in the Oval Office, at the White House, the President of the United States, Joe Biden, sounded a warning to Americans to “be on guard” against threats from oligarchs, disinformation and AI in a future under the command of Donald Trump.
Biden said an “oligarchy is taking shape in America” and highlighted “a dangerous concentration of power.” He said the billionaires around Trump represent a concentration of “extreme wealth, power and influence that literally threatens our entire democracy.”
Trump wasted no time in proving the symbolically defeated US president right – not that he needed to give any more arguments, since a series of sensitive positions in the US administration were handed over to extremely reactionary tycoons, such as Elon Musk, Vivek Ramaswamy and Stephen Feinberg .
The idea of a government shaped by private interests is consolidated with each announcement or interview given by the elected president, who takes office for his second term this Monday (20).
Last Friday (17), Trump used his official account on X (formerly Twitter) to announce the launch of his own cryptocurrency, $TRUMP.
“My new official meme is here! It’s time to celebrate everything we represent: victory! Join my very special Trump Community. Get your $TRUMP now. Have fun!” Trump said in the tweet.
The initiative is not just another marketing move by the tycoon who has made his image a global brand. The launch of the $TRUMP memecoin is a milestone for both the digital economy and North American politics, consolidating the intersection between private interests and public administration.
The cryptocurrency, whose initial market value was US$6 (R$36, at this Monday’s price) per unit, soared in the first 24 hours, reaching US$30.48 (R$184) and a market capitalization of US$14 billion ( R$84 billion). Currently, $TRUMP is traded at US$64 (R$387), representing an appreciation of up to 1,239% in just three days. Much of this growth has been driven by Trump’s base of supporters, who see the coin as a symbol of resistance and political triumph.
But Trump is not alone in this endeavor. Melania Trump, his wife and future first lady, followed in her husband’s footsteps and announced last Sunday (19) her own cryptocurrency, $MELANIA. The asset quickly reached a market capitalization of US$8.5 billion (R$51 billion), but saw its value drop to around US$1.7 billion (R$10 billion) the following day.
Even so, $MELANIA reinforces the strategy of monetizing the Trump family’s popularity in a market that mixes financial speculation and cult of personality.
Experts point to the danger of an unprecedented concentration of wealth and power, given the centralized structure of these currencies. In the case of $TRUMP, 80% of the tokens are under the control of CIC Digital, a company affiliated with the Trump family, while only 10% are available to the public. The setup fuels concerns about market manipulation and insider trading.
At the same time, the timing of the launch just days before the presidential inauguration raises ethical questions. The president-elect has promised to deregulate the cryptocurrency sector and introduce policies that directly benefit cryptocurrency exchanges such as Coinbase and Ripple, both of which support his campaign. The criticism is clear: Trump is not just governing; is shaping the rules of the game to maximize its own profits.
Anthony Scaramucci, Trump’s former communications director, didn’t mince words: “It’s dictatorial-level corruption.” Meanwhile, crypto sector leaders celebrate the new phase of deregulation promised by the Republican, which includes the creation of a federal bitcoin reserve and the easing of requirements for blockchain companies.
With a cabinet full of billionaires and a currency bearing his name, Trump embodies the oligarchy that Biden warned about in his farewell speech. Whether $TRUMP is a milestone of financial innovation or a symbol of how private interests are shaping American politics, it remains to be seen how history will record this moment.
Source: vermelho.org.br