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President-elect Trump launched his own cryptocurrency overnight and swiftly appeared to make more than $25 billion on paper for himself and his companies. Why it matters: The stunning launch of $TRUMP caught the entire industry off-guard, and speaks to both his personal influence and the ascendancy of cryptocurrency in his administration. – It also speaks to the nature of the crypto industry that someone could have $25 billion worth of something that literally did not exist 24 hours previously. Catch up quick: Friday night, while Trump was reportedly hosting a “Crypto Ball” for the industry in Washington, the president-elect launched his own meme-linked cryptocurrency.