'This is beyond insane': Donald Trump sparks baffled reaction after promoting meme coin on Truth Social

Donald Trump appears to have launched a meme coin after promoting it on Twitter/X and Truth Social just days before his inauguration – and, as you’d expect, it sparked a huge reaction on social media.

A post on the Trump Twitter/X account read: "My new official Trump meme is here! It’s time to celebrate everything we stand for: winning! Join my very special Trump community. Get your $trump now… Have fun."

As Forbes reports, some speculated online that the post had been published after the account had been hacked. However, other posts have since been published on the account and it’s not been deleted, which suggests Trump’s team is still in control of it.

The announcement has already caused a major stir among financial commentators, with crypto investor Anthony Pompliano urging people to “buckle up”.

Analysts with financial publication, The Kobeissi Letter, posted on Twitter/X: “This is beyond insane. What is happening?"

MeidasTouch Co-Founder Ben Meiselas added: "Instead of lowering prices or ending war in Ukraine, Trump is selling “meme coins” right before the inauguration. He doesn’t give a crap about our country. The world is laughing at us."

It comes as the price of bitcoin topped $100,000 again early Friday as a pumped up cryptocurrency industry expects early action by Trump when he's sworn in as president next week.

Meanwhile, Trump is continuing to prepare for his second administration ahead of his inauguration and his latest policy of renaming the Gulf of Mexico to the ‘Gulf of America’ has, unsurprisingly, raised a lot of eyebrows.

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