Former US President Donald Trump has made a surprise move into the world of cryptocurrency, launching a new meme coin just days before his inauguration. The announcement, made on Trump's X and Truth Social accounts, has sparked both skepticism and speculation among crypto enthusiasts and critics alike.

Initially, many were quick to question the legitimacy of the announcement, pointing to several red flags. For instance, the millions of dollars seeding the project reportedly came from Binance and Gate, two major cryptocurrency exchanges that only serve overseas customers. However, sources close to Trump's family have since confirmed the announcements' legitimacy, as reported by Cointelegraph.

The new meme coin is not entirely unexpected, given Trump's previous forays into the world of cryptocurrency. The former president has already launched multiple NFT collections and introduced a crypto platform last year. Moreover, he has made cryptocurrency a central part of his new agenda, assembling a crypto and AI-focused tech policy team led by "crypto czar" David Sacks.

According to Bloomberg, Trump plans to issue an executive order naming crypto a "national imperative or priority" after his inauguration next week. This move is likely to have significant implications for the crypto industry, and Trump's launch of a meme coin can be seen as a strategic move to further his crypto ambitions.

The meme coin's website credits the project to the same group behind Trump's NFTs, further solidifying the connection between the two. While the exact details of the coin's functionality and purpose remain unclear, the move is likely to generate significant buzz and attention in the crypto community.

As the crypto industry continues to evolve and mature, Trump's entry into the market is likely to have far-reaching consequences. Whether the meme coin will prove to be a successful venture remains to be seen, but one thing is certain – Trump's move has already sparked a lively debate about the intersection of politics, technology, and cryptocurrency.

With Trump's inauguration just days away, the crypto community will be watching closely to see how his administration's crypto policies unfold. One thing is certain – the launch of Trump's meme coin has set the stage for a fascinating and potentially pivotal chapter in the history of cryptocurrency.