Bitcoin passed the $100,000 mark for the first time just last December. Could this be the year crypto goes mainstream?

Trump's actions contrast sharply with those of former President Joe Biden’s administration, which had taken a more adversarial stance on crypto.

Until, of course, in 2013 the Silk Road was shut down by FBI agents and Mr Ulbricht, then 29 years old, was arrested in the science-fiction section of a San Francisco public library. In 2015, after a four-week trial,

As part of the executive order, the creation of central bank digital currencies in the US has also been banned, which could compete with existing cryptocurrencies.

Trump launches second term quickly with dozens of efforts on immigration, government process and hiring, international affairs and some quirky policies.

The incoming first couple have launched a pair of meme coins in the leadup to president-elect Donald Trump’s inauguration that are already worth billions of dollars on paper. But the timing of the Trump cryptocurrency launch,

Space X and Tesla CEO Elon Musk, who Trump has appointed as co-lead in the newly created Department of Government Efficiency (DOGE), stands as the richest person in the world with a fortune of $433.9 billion, per Forbes.

According to a disclaimer on the Trump Meme website, Trump Organization-affiliated entities hold 80 percent of the cryptocurrency, and will earn profits from the "trading revenue" generated through sales.

The new business venture by the Trump family is generating intensifying criticism and ethics questions, even as it has turned into an overnight phenomenon, generating a windfall on paper.

The Trump-named cryptocurrency is valued at more than $6 billion after its first week, but it mimics moves made by ancient leaders.