What is Official Trump?
The Official Trump (TRUMP) token is a Solana Program Library (SPL) memecoin launched on the Solana network on January 17, 2025, by CIC Digital LLC, an affiliate of the Trump Organization, to coincide with Donald Trump's inauguration as the 47th President of the United States. Promoted as a celebration of meme culture, the token was introduced by Trump on social media as part of a broader community initiative. Currently, the TRUMP token does not offer utility beyond its association with meme culture, and no development roadmap is provided on its official website.
What is TRUMP?
The TRUMP token is primarily designed as a memecoin with no stated utility beyond its role in promoting and participating in meme culture. It does not offer features like staking, governance, or other typical functionalities seen in other cryptocurrency projects. The token has a total supply of 1 billion, with 200 million made available to the public at launch. The remaining 800 million tokens are held by Trump-affiliated entities under a three-year vesting schedule, limiting the immediate release of these tokens into the market.
Risk Statement
Before trading any crypto assets it is important to understand the risks. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.
No securities regulatory authority or regulator in Canada has evaluated or endorsed the Crypto Contracts or any of the crypto assets made available through the platform.
Wealthsimple has performed an assessment of whether TRUMP can be supported by Wealthsimple's platform, including whether TRUMP is a security and/or a derivative and is being offered in compliance with securities and derivatives laws.
We evaluated TRUMP based on publicly available information, including (but not limited to):
- The creation, governance, usage and design of TRUMP, including the source code, security and roadmap for growth in the developer community and, if applicable, the background of the developer(s) that first created TRUMP;
- The supply, demand, maturity, utility and liquidity of TRUMP;
- Material technical risks associated with TRUMP, including any code defects, security breaches and other threats concerning TRUMP and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them;
- Legal and regulatory risks associated with TRUMP, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of TRUMP; and
- Statements made by regulators or securities regulatory authorities in Canada and other jurisdiction regarding whether TRUMP, or generally about whether the type of crypto asset, is a security and/or a derivative.
Wealthsimple monitors ongoing developments related to crypto assets available on its platform for significant changes that may affect Wealthsimple's original assessment of those assets, including Wealthsimple's assessment of the application of securities and derivatives laws. Any significant changes relating to TRUMP may result in changes to this Crypto Asset Statement and/or Wealthsimple's ability to support TRUMP.
Like all other crypto assets, there are some general risks to investing in TRUMP. These include short history risk, volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk, electronic trading risk and cyber security risk. Please review the Wealthsimple Crypto Product Risk Disclosure for additional discussion of general risks associated with the crypto assets made available through the platform.
We emphasize that this Crypto Asset Statement is not exhaustive of all risks associated with trading TRUMP. Investors should perform their own assessment to determine the appropriate level of risk for their personal circumstances.
Wealthsimple is offering Crypto Contracts in reliance on a prospectus exemption contained in the exemptive relief decision Re Wealthsimple Investments Inc. dated December 18, 2023 (the Decision).
The statutory rights of action for damages and rescission in section 130.1 of the Securities Act (Ontario), and, if applicable, similar statutory rights under securities legislation of other jurisdictions of Canada, do not apply in respect of this Crypto Asset Statement to the extent a Crypto Contract is distributed under the prospectus relief in the Decision.
Last updated: January 20, 2025
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