Trump-licensed websites now accept the $TRUMP memecoin to buy merchandise, as regulators scrutinize potential insider trading concerns.

Donald Trump’s namesake memecoin has likely generated at least $11.4 million in fees for entities linked to the president since its launch just before his second inauguration, according to an analysis by the crypto risk modeling firm Gauntlet.

When he launched his own cryptocurrency, Donald Trump produced unimaginable wealth from thin air. But it will come at a cost to someone.

The token launch appeared to be a boost for the chain Trump's memecoin launched on. Solana was up about 6% after the launch as money flowed in. Other cryptos had taken a dip as traders may have shifted funds to account for the surprise token drop.

The launch of the Trump token, which hit a $15 billion valuation, rides the trend and raises questions. Axios reporter Brady Dale explains what a meme coin is and what owners can actually do with them.