Love Trump? Now You Can Buy His Meme Coin.

The Journal.

The Wall Street Journal

Daily News, Business News, News

4.2 • 5.3K Ratings

🗓️ 23 January 2025

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

The crypto industry has hailed President Trump as a savior. But shortly before his inauguration, Trump made a surprise move that shook the crypto world. WSJ’s Vicky Ge Huang explains the president’s new cryptocurrency and why it has ruffled feathers. Further Reading: -$TRUMP Is Already Worth Billions. What to Know About the Meme Coin. -Crypto Thought Trump Would Bring It Legitimacy. Then He Launched a Meme Coin. Further Listening: -Bitcoin Hit $100k. What's Next? -Inside the Trump Crypto Bromance Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	The Friday before inauguration, the crypto industry convened in D.C. for a party.
0:11.3	They called it the crypto ball.
0:15.2	Our colleague Vicky Huang talked to some of the attendees.
0:19.4	Who was there?
0:24.7	Everyone. A lot of the most high-profile people in crypto were there, such as Coinbase CEO Brian Armstrong, the co-founders of
0:31.5	Crypto Exchange Gemini, the Wink of Oz brothers, and some of the most high-profile political figures.
0:39.4	Trump's pick for Treasury Secretary was there.
0:42.4	So was the Speaker of the House.
0:44.7	Guests gnached on beef tenderloin and tuna tartar.
0:47.8	They snapped up free swag, like Make Bitcoin Great Again hats and Trump-style golden slippers.
0:55.2	Snoop Dog performed.
1:00.4	What were they celebrating?
1:03.6	They were celebrating the inauguration of President Trump.
1:08.4	But beyond that, it was more about how President Trump has become the
1:14.3	crypto industry's biggest cheerleader.
1:16.9	On the campaign trail, Trump embraced crypto.
1:20.4	He promised industry-friendly regulations and pledged to start a national Bitcoin reserve.
1:27.0	And the crypto industry embraced Trump right back,
1:31.1	channeling contributions to him and other crypto-friendly candidates.
1:35.7	Now, at the crypto ball, it seemed like all that effort and cash was about to pay off.
1:42.5	Here's Trump's Crypto-Zar David Sacks on stage.
1:46.3	The reign of terror against crypto is over.
	...

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