Trump’s Memecoin Debut Signals the Beginning of a New Regulatory Era for Cryptocurrency: Bernstein

Introduction to President-elect Donald Trump Trump meme This is a paradigm shift in the way the United States and the rest of the world engage with cryptocurrencies, broker Bernstein said in a research report on Monday.

“It signifies a new regulatory era, where governments see cryptocurrencies as a technology to reach the masses directly,” said analysts led by Gautam Chugani.

Trump’s official memecoin debuted Saturday on the Solana blockchain. Its fully diluted market capitalization has risen to approximately $73 billion, making it one of the most successful token launches ever. He lost nearly 40% on Sunday when his wife, Melania, died Launched its own memecoinMelania.

Bernstein said the president-elect’s launch of cryptocurrencies is a big signal for cryptocurrency creators in the United States, especially in light of the Biden administration’s crackdown on the industry.

“Start building in the US, and don’t be shy about launching tokens – a new regulatory era has arrived for cryptocurrencies,” the authors wrote.

However, the market may want more information about the use of the 80% of Trump supplies held by CIC Digital, an entity 100% owned by Donald Trump’s Revocable Trust.

The report added that a memecoin that leverages Trump’s branding and policies has a “potential lifespan,” but will rely on the token’s design to “make it less minable due to the 80% internal supply.”

The TRUMP token will be listed on major cryptocurrency exchanges including Coinbase and Binance, according to company announcements.

Read more: Coinbase and Binance plan to list Donald Trump’s official Trump token after its debut

Update (January 20, 11:18 UTC): Replaces lead image.