Trump launches meme coin. Rakes in over $25 billion in value overnight
Politico reports: President-elect Donald Trump late Friday launched a cryptocurrency token that exploded in value overnight, potentially increasing his net worth by tens of billions of dollars on paper just days before he is set to be sworn in as president. Trump launched the so-called memecoin — a digital token with no intrinsic real-world value that is traded on a digital ledger technology called blockchain — with posts on his social media site and X after 9 p.m., prompting the…