Trump’s Memecoin Creates Billions From Thin Air Before DC Return

In tuxedos and floor-length gowns, crypto executives and adherents spilled through the Andrew W. Mellon Auditorium in Washington on Friday, ready to toast the inauguration of Donald J. Trump — a leader who promises to become the most crypto-friendly US president.

“The reign of terror against crypto is over,” roared David Sacks, the venture capital executive appointed as Trump’s crypto czar.

David Sacks

Photographer: Alex Flynn/Bloomberg

Just how pro-crypto can a president be? That same evening came the launch of a Trump memecoin — a virtual token that appears to offer direct financial benefit to the president-elect’s family. The token’s market value surged ...