Trump becomes one of world’s richest men after $43bn crypto coin launch.

The launch of a Donald Trump “meme coin” has handed the incoming president a paper fortune that makes him one of the world’s richest men on the eve of his inauguration.

Mr Trump is sitting on a stack of digital tokens theoretically worth $43bn (£35bn) after investors and supporters piled in to the launch of his $Trump coin on Friday.

The token, announced by Mr Trump on Friday, soared in value after its launch to become one of the world’s most valuable cryptocurrencies.

The 200m in circulation are worth a combined $10.7bn (£8.6bn), but the coin’s website said that 1bn tokens will be released in total over the next three years.

The remaining 800m are still held by CIC Digital, which describes itself as an affiliate of the Trump Organization, and Fight Fight Fight LLC, a subsidiary.

At the coin’s current price of $53.65 that would make the holdings worth $42.9bn.

Source: TELEGRAPH