Donald Trump’s Solana-based memecoin faces insider trading allegations in the midst of its meteoric rise to hitting $42 billion in market cap. The allegations started after on-chain analytics firm, Bubblemaps identified a crypto wallet funded with $1 million four hours before the token officially launched.

Trump’s Solana-based memecoin has sparked controversy with allegations of insider trading, while major exchanges list the token and Solana’s ecosystem sees record activity.

The Trump Meme Coin ($TRUMP) launched on Jan. 17, 2025, and can be purchased using a credit or debit card or cryptocurrency. Here’s where to buy it.

The president-elect and his family have a direct and potentially lucrative stake in the sale of a cryptocurrency product that surged in value in the hours after going on sale, days before his inauguration.

The token TRUMP saw bigger gains in four hours than the S&P 500 has in three decades. Donald Trump didn’t want to wait until his Jan. 20 inauguration to deliver on his promise to be the first crypto president.