Trump unveiled the so-called meme coin, which is designed to capitalize on the popularity of a certain personality, movement or viral internet trend, on social media.

The new $TRUMP meme coin – a type of cryptocurrency – launched Friday night with posts on Trump's Truth Social social media platform and on X, the social network previously known as Twitter. According to the coin's website, gettrumpmemes.com, there are 200 million $TRUMP coins available now, with plans to have 1 billion over the next three years.