Several online stores selling Trump-branded products have started accepting $Trump, a memecoin launched by U.S. President Donald Trump as a form of payment.
Websites such as GetTrumpWatches.com, GetTrumpFragrances.com, and GetTrumpSneakers.com now allow customers to pay with $TRUMP, in addition to traditional payment methods like credit cards and Bitcoin.
Trump Memecoin Launched in January 2025
The $TRUMP memecoin was officially launched on January 17, 2025, and was promoted by the former president on social media. While the coin initially saw some significant value fluctuations, it is currently trading at $27.40, experiencing a 5.14% drop in the last 24 hours.
The current market cap of the token stands at $5.47 billion, with a 24-hour trading volume down by 24.16%.
Since its release, the memecoin has gained attention from both crypto enthusiasts and political followers.
The acceptance of $TRUMP as a payment option by these online stores is seen as an effort to attract more supporters and crypto users to the brand.
Memecoin Expands to Other Businesses
In addition to Trump-branded stores, the travel website Travala.com recently began accepting $TRUMP as a payment method, marking another step in the integration of the memecoin into mainstream business transactions. This acceptance raises questions about the potential uses for the token beyond speculation.
Despite the promotion of cryptocurrencies, memecoins like $TRUMP face challenges in being adopted as payment methods.
Stablecoins, which are pegged to traditional currencies, have been more widely used for transactions, while coins with fluctuating values like $Trump struggle to gain traction.
Potential Conflicts of Interest and Legal Concerns
While the memecoin offers a new way for supporters to interact with Trump-branded products, it has also sparked legal and ethical concerns.
Two senior Democratic congressional members have called for federal regulators to investigate the launch of $TRUMP and another memecoin, $MELANIA, associated with Melania Trump.
Critics have raised alarms over potential conflicts of interest, as the coins are tied to the former president’s public image and could potentially result in personal financial gain.
Reports indicate that $TRUMP and $MELANIA have already generated approximately $11.4 million in fees for entities associated with Trump, including his family and business ventures.
This raises concerns about the misuse of public office and the financial risks posed to retail investors who hold minimal stakes in the tokens.
Whale Ownership and Market Concentration
According to Chainalysis, a small number of crypto whales control the majority of the $Trump and $MELANIA tokens. Around 40 holders control 94% of the total tokens, each possessing at least $10 million worth of assets.
This level of concentration has left retail investors with minimal stakes, raising questions about the fairness and accessibility of the tokens for average investors.
This move into the world of cryptocurrency is part of Trump’s broader strategy to engage with digital assets. In addition to promoting $TRUMP, Trump and his sons have announced their involvement with World Liberty Financial, a digital asset business that promises to offer a yield on crypto holdings.
The introduction of the $TRUMP memecoin as a payment option is just the latest effort to blend political branding with cryptocurrency innovation.
Also Read: Trump Token Whale Faces $2.47M Loss on $9.5M $TRUMP Purchase, Sits on $11M $MELANIA Tokens