Love him or hate him, Trump knows how to leverage the power of his brand to do outrageous things.
He proved this by creating a meme coin that surged to a market cap of $40b+ in its first 48 hours.
That is a staggering amount of value for a coin that literally has zero value other than pure speculation.
Like it or not, no other brand on earth could generate that kind of financial impact so quickly!
Some people (okay, a LOT of people) will say this meme coin was just a way for Trump and his allies to make money. And maybe it is! But this cultural event was more than that. It was a demonstration of what every brand wants to inspire in its audience: wild, unbridled enthusiasm that leads to monetization.
Okay fam, through the magic of togetherness, let’s look at what happened with the $TRUMP coin, ask questions about ethics like we are 5, and look at the potential impact of a high-profile meme coin that was not the immediate rug pull everyone thought it would be.
Also, I am not promoting the $TRUMP coin. I am only here to marvel at the spectacle of it, and hopefully make you laugh while drawing your attention to some of the nuances of the branding behind it!
TLDR
- Trump’s brand is a modern marvel of marketing wizardry
- Most brands wish they had Trump’s level of resilient X Factor
- The Trump meme coin launch was brilliant and legal, but its ethics were questionable
- Trump’s brand is amazing, but it also carries a level of moral responsibility
Is Trump’s Brand One Of The Most Powerful Forces In Marketing Today?
Yes.
Yes it is.
Even though Trump is one of the most bombastic and polarizing people on the planet, he objectively knows how to create lasting cultural impact at levels that seem impossible.
Now, before anyone’s TDS causes their monocle to pop out or spit Baja Blast on their keyboard, let’s look at what Trump and his brand have achieved over the years.
- He was a political outsider that somehow won the Presidency, twice
- He is able to singlehandedly prop up the fading mainstream media with people either tuning in to hang on his every word, or they tune in to passionately hate-watch him
- He was able to appeal to younger voters in ways that truly don’t make sense on paper
- He drew a number of left-leaning and centrist media personalities into his camp despite having numerous policy differences
- He led a wildly successful TV show in “The Apprentice” for 14 years (just this alone is pretty crazy)
In recent history, what President, celebrity, musician, athlete, or influencer can lay claim to what Trump has done in terms of swaying public opinion (for or against), leading news cycles, and creating a ubiquitous wave of culture?
Obama came close, but he had a lot of things going for him that Trump does not.
You know, basic things such as likability, giving speeches that appeal to broad audiences, not offending people everywhere he goes, and my personal favorite per Joe Biden:
“I mean, you got the first sort of mainstream African-American. […] who is articulate and bright and clean and a nice-looking guy. I mean, that’s a storybook, man.”
Joe Biden – Former President
(It’s a joke, get over it)
Now before anyone starts angrily blaming Trump’s “dumb” followers for his fame (Reddit community, I am looking at you in particular), we have to acknowledge that Trump has an X Factor and media savvy that is straight up legendary.
Despite having so much working against him, including his personality and the things he says and does, Trump is still able to win over audiences, influence public narratives, and gain popularity with the most unexpected people. Despite scandals, both fabricated and legitimate, his brand remains resilient.
And nobody totally knows why.
This is the mystique of Trump’s brand, and it is this X Factor that served as the platform he launched his meme coin from.
Okay, But How Was Trump’s Meme Coin Launch “Genius”?
It did not hit me right away, but after the first 2 seconds of disbelief was over I saw it.
With his meme coin, people accused Trump of grifting his audience and of stealing from the very people who supported him. They also speculated that the whole thing was a way for Trump to take bribes from foreign entities.
Maybe, but…
(Okay, pause. There were serious issues with this coin that I don’t want to downplay, but we will cover those in a later section)
…I have to applaud the way that Trump’s team handled the launch for this meme coin. They did it in a way that benefited those in his inner circle and supporters in totally legal ways.
(Notice I did not say, “ethical”!)
For example:
- Two days before the inauguration, Trump made the launch announcement on Truth Social with no fanfare (nobody but his true fans, or haters, follow him on that platform)
- He snubbed the mainstream media and did not make a formal press release (they have treated him like hot garbage for years)
- The coin did not launch on a major crypto exchange (meaning opportunistic crypto whales could not swoop in with large, pre-existing holdings to buy up supply)
- A big display was made about the ownership of the coin, and its lockout timers were made transparent (Trump affiliated entities own 80% of the coins, and can only sell in tranches after 90 days post-launch)
- And most importantly, there was no immediate rug pull despite half the known universe expecting there to be one (even I had my doubts)
Like it or not, the combination of these factors is truly genius. The coin provided massive hype ahead of his inauguration, benefitted his supporters, snubbed the mainstream media, and Trump’s team probably made a lot of money off it.
Was it ethical or fair? No, not really. But was it illegal? Also no.
Now, I have to give Trump credit for his shameless pursuit of self-benefit. I don’t agree with all aspects of it, but at least he is pretty human when discussing it.
For example, during the 2020 election debate with Biden, a moderator asked if Trump would stop using the tax code loopholes that allowed the wealthy to avoid taxes. He was very quick to say, “No” and went on to say that he used them just like every politician, and that he would continue to use them until the various branches of government voted to change them.
I don’t think the moderator or the American public were expecting that answer.
I mean, even though we all want to pay less taxes by using completely legal methods, it sounded really sus coming from the standing President.
By that same logic, launching a meme coin is perfectly legal, and the promotion tactics were solid, despite their poor ethics.
Wrapping It Up
Okay, so let’s put the fries in the bag.
Please don’t take any of this article as an endorsement of Trump, his meme coin, or meme coins in general. There is too much to say on any one of those topics than most of our attention spans or rage inhibiters can handle.
However, I still respect what Trump was able to accomplish through the power of his brand, even in the illegitimate financial space of meme coins. After all, Team Trump drummed up $40b+ of financial value in a meme coin ecosystem that has zero real-world value, literally overnight.
No celebrity, entertainer, musician or anyone else has been able to drive that sort of transactional value from their audience: “Nothing like it has ever been seen before. It was really quite something.”
Despite all the negativity, kitten-grabbing rhetoric, and bombast, I have to admire Trump’s brand as truly being a modern marvel. What brand can honestly say they wouldn’t want Trump’s reach, staying power, and resilience under controversy?
In the future, I hope Trump is able to use his brand superpowers to boost the crypto industry without damaging the perception of it along the way.
For example:
- Get that Federal crypto reserve in place
- Start using blockchain to provide transparency on how our tax dollars are spent
- Create enough regulations to protect consumers but still allow crypto to operate somewhat freely
Just please don’t launch another Trump or Melania coin.
