The World Liberty Financial, a decentralized finance platform associated with the incoming U.S. President Donald Trump, has been acquiring Ethereum Name Service (ENS) domain names linked to Trump’s relatives, leading to rumors of upcoming memecoin launches involving the Trump family.
On January 19th, data from Etherscan showed that the Trump family’s DeFi platform acquired the ENS domain names barrontrump.eth, erictrump.eth, trumpcoin.eth, and worldliberty.eth. This was followed by more purchases of ENS domain names including 9290.eth, yatogame.eth, and daolationship.eth.
The local community raised questions about the DeFi platform’s ENS buys, implying they might hold some importance. Account Aixbt on social media alerted its 400,000 followers of potential strategic moves, while another user proposed that this could be the answer to the “Trump family meme coin mystery.
Trump family launches official memecoins
A mere days before his inauguration on January 20th, Trump unveiled the commencement of his own meme-based cryptocurrency, TRUMP, on platforms X and Truth Social. In a brief span of hours, this token saw its market value soar beyond $9 billion, outranking memecoins such as Pepe (PEPE) and Bonk (BONK).
Currently, TRUMP is valued at $57.30 per unit, representing a 21% decrease from its highest recorded value of $73. Prior to this decline, the token had reached a market capitalization of approximately $15 billion. Even after falling to $12 billion, it remains significantly more valuable than Trump’s estimated net worth of around $7 billion.
After Donald Trump introduced his memecoin, it was followed by Melania Trump unveiling her own cryptocurrency token named after herself, MELANIA, on January 19th. Melania made this announcement, and her spouse, Donald, shared the exciting news across his official social media accounts.
In just two hours following its debut, Dexscreener’s data revealed that the memecoin had reached a market capitalization of six billion dollars.
As a researcher, I’ve observed a divisive reaction towards the memecoin tokens launched by the Trump family. Edward Dowd, founder of Phinance Technologies, labeled this move as an “unforced error of epic proportions,” made just before a presidential inauguration. On the other hand, financial analyst Michael Gayed likened the TRUMP token to a “pump and dump” scheme, implying that it may have negatively impacted Trump’s credibility.
World Liberty Financial acquires Ether
Beyond purchasing ENS domain names and introducing memecoins, the Trump family additionally invested in Ethereum (ETH). On January 19th, World Liberty Financial acquired approximately $48 million worth of ETH. Now, the project owns a total of 33,639 ETH, which amounts to over $107 million.
On January 20th, Eric Trump subtly indicated further actions in the Decentralized Finance (DeFi) sector, as the Trump family’s influence in the crypto sphere remains prominent.
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2025-01-20 13:15