Coinbase, Binance Plan to List Donald Trump's Official TRUMP Token After Its Phenomenal Debut

Coinbase, Binance Plan to List Donald Trump's Official TRUMP Token After Its Phenomenal Debut

The official memecoin of the 47th U.S. president, Donald Trump, will soon be available on major cryptocurrency exchanges, including Coinbase and Binance, despite facing initial challenges in gaining listings. The TRUMP token, a fan-driven digital asset tied to Trump’s administration, has already seen considerable interest, with plans for listings on several leading platforms.

Coinbase announced on January 19, 2025, via its Coinbase Assets X account, that it will be adding the TRUMP token to its platform. While no specific timeline was provided, the listing represents a significant step for the token, which has already been listed on various other exchanges like Bitget, KuCoin, and Kraken. Binance, too, confirmed that trading for the TRUMP token would begin on the morning of January 19, 2025.

At the time of writing, the TRUMP token boasts a market capitalization of over $7.6 billion, with approximately $15 billion in trading volume. Despite this surge in trading interest, the token's path to exchange listings has not been without its hurdles. The first Trump-themed token, MAGA, faced significant resistance when it tried to be listed on major platforms such as ByBit and OKX, with concerns about its political nature cited as a reason for rejection. Kraken also declined to list the token and did not respond to inquiries on the matter.

The MAGA token, originally built on Ethereum, has seen its value plummet by 84% from its June 2024 peak of $17.80. After the launch of the official TRUMP token, MAGA experienced a sharp drop in value, falling from $3.50 to $1.44, with its market cap dropping from $158 million to $64 million. However, the token has slowly regained some ground, likely due to renewed interest in Trump-themed digital assets as his inauguration approaches.

The TRUMP token's supply distribution has sparked controversy, with critics pointing out that 80% of the token's total supply is controlled by CIC Digital LLC, an entity affiliated with the Trump Organization. This firm, which previously launched Trump-themed NFTs, holds a significant portion of the TRUMP token's market power, raising concerns over centralization within the asset’s ecosystem. Despite these concerns, the TRUMP token has garnered considerable attention, with some seeing it as a symbol of Trump’s increasing involvement in the digital asset space. 

Meanwhile, the Trump Organization continues to capitalize on the growing demand for Trump-related digital collectibles, with Trump NFTs also experiencing a resurgence. Data from OpenSea shows over 2,800 sales of Trump NFTs in the last 24 hours alone, totaling over 765 ETH ($2.5 million).

The listing of the TRUMP memecoin on major exchanges and its growing popularity in the crypto space highlight the continued integration of political and financial sectors, as digital currencies increasingly become a tool for political engagement and fundraising.