Trump said: 'I don't know much about Memecoin TRUMP', Announces $500 Billion AI Investment Initiative

Speaking to a group of reporters on Tuesday afternoon, President Donald Trump was asked about the memecoin officially named after him, launched on the Friday evening before. “I don't know much about it other than I've launched it,” Trump shared. “I hear it's very successful, but I haven't checked it.” When a reporter reported that TRUMP had made several billion dollars in just a few days, the President responded with a joke: 'A few billion? That's nothing compared to these guys,' referring to Masayoshi Son of SoftBank, Sam Altman of OpenAI, and Larry Ellison of Oracle, who were in the room with him. Trump announced a $500 billion initiative from the private sector on Tuesday to enhance the United States' artificial intelligence (AI) infrastructure and promote economic growth. Called the Stargate Project, this plan was proposed just one day after he revoked the Biden administration's executive order aimed at managing AI-related risks. The initiative will involve some leading AI developers, including OpenAI, the creator of ChatGPT, Oracle, and Japan's SoftBank Group. Other participating companies include Microsoft and Nvidia, although their contributions have not been disclosed. "I am proud to announce that Stargate will invest at least $500 billion in AI infrastructure in the United States, while creating over 100,000 jobs for Americans. This great project is a strong statement of belief in the potential of America under the leadership of a new president." This project is not only a step forward in developing AI infrastructure in the United States, but also has the potential to have a significant impact on the economy, with over 100,000 new jobs expected to be created throughout the deployment process. Memecoin TRUMP President Trump officially launched a memecoin based on Solana on January 17, just three days before his inauguration. The market capitalization of the TRUMP memecoin has surpassed $13 billion by the end of the weekend after its launch, although currently it is trading with a market capitalization of around $8 billion. This token dropped 50% on Sunday after news broke that First Lady Melania Trump also launched her own memecoin. The supply of both tokens is believed to be mostly owned by Trump family members.

Trump is said to have plans to issue an executive order to prioritize cryptocurrencies as a national policy and has designated David Sacks as the government's cryptocurrency expert. On Tuesday, TD Cowen warned that Trump's memecoin could further complicate bipartisan efforts to pass crypto market structure legislation, as investigations into its impact could increase political tensions between parties. "Its incredible success to date may also reinforce Trump's interest in the industry, as he personally benefits," Alexander Blume, CEO of Two Prim Digital Assets, previously said. "On the other hand, for those interested in cryptocurrencies being able to reshape the global financial structure, this move brings us closer to turning crypto into a 'casino' rather than a real reform." DYOR! #Write2Earn #TRUMPTokenWatch $TRUMP {spot}(TRUMPUSDT)