President-elect Trump has launched his own crypto token called Trump coin. In less than 24 hours, the coin has had a 12,000% gain and has seen billions in trading volume.

US President-elect Donald Trump has launched his own cryptocurrency, which quickly soared in market capitalisation to several billion dollars. His release of the meme coin, $Trump, comes as he prepares to take office on Monday as 47th president of the US.

The token TRUMP saw bigger gains in four hours than the S&P 500 has in three decades. Donald Trump didn’t want to wait until his Jan. 20 inauguration to deliver on his promise to be the first crypto president.

Late Thursday, Bloomberg reported that President-elect Donald Trump will likely issue an executive order announcing crypto as a national imperative or priority with a voice in his administration. Trump could also announce the creation of a crypto advisory that will advocate the digital asset industry's policy goals.

As President-elect Donald Trump begins a second term on Monday, he plans to issue an executive order making cryptocurrency a national priority, Bloomberg reports. The order is meant to guide government agencies to work with the industry and possibly pause crypto-related litigation,