From Trump to Milei: Presidential memecoins roil the crypto market

The crypto market has no peace. The return of Donald Trump to the White House has been a roller coaster for the sector, and the president’s attitude towards the industry has infected some of his counterparts around the world. A few days before his inauguration, he launched the $TRUMP and $MELANIA memecoins, which in a matter of hours were worth more than $15 billion dollars (just over €14.3 billion). A few weeks later, the president of the Central African Republic, Faustin Archange Touadéra, created $CAR in his own image. A few days ago, Javier Milei of Argentina jumped on board and turned to the social media platform X to endorse a new cryptocurrency called $LIBRA. But his support was short-lived: the same day he regretted it, said he was not tied to the project, and deleted his tweet. In all three cases, the result was the same. After a dizzying rise in the value of the asset, unchecked falls followed, leading to the almost total loss of the value of the token (asset), which left investors empty-handed.

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