The TrumpCoin: Exploring the Intersection of Cryptocurrency and Political Ideology
Jiaheng Zhang
Co-Presenters: Individual Presentation
College: College of Business and Public Management
Major: Accounting
Faculty Research Mentor: Huaibing Yu
Abstract:
This research focuses on TrumpCoin, a politically-themed cryptocurrency created to support the ideology and legacy of former U.S. President Donald Trump, as a case study to investigate the intersection of cryptocurrency and political movements. TrumpCoin represents a growing trend of cryptocurrencies transcending their economic function to become tools for identity expression, political allegiance, and community building. By analyzing TrumpCoin's inception, purpose, and adoption, this study seeks to address how politically motivated cryptocurrencies influence the broader cryptocurrency ecosystem and the sociopolitical landscape. The research employs a qualitative approach to explore the narratives promoted by TrumpCoin’s creators and community, alongside a quantitative analysis of its market performance, usage trends, and blockchain activity. Additionally, this research investigates the motivations of its supporters and its impact on shaping digital political engagement. Findings suggest that TrumpCoin operates less as a financial asset and more as a symbolic currency for political alignment, creating a niche but highly dedicated user base. Its limited adoption highlights the challenges of politicized cryptocurrencies, such as volatility, market skepticism, and regulatory scrutiny. However, TrumpCoin also illustrates how digital currencies can evolve into sociopolitical tools, fostering decentralized political activism and redefining community engagement in the digital age. This study further examines the ethical and regulatory implications of politically driven cryptocurrencies, questioning their role in influencing political discourse, transparency, and financial accountability. By analyzing TrumpCoin, this research contributes to the broader understanding of cryptocurrencies as cultural artifacts and highlights the potential for digital assets to intersect with political ideologies in ways that challenge traditional boundaries of financial and political systems. The findings provide valuable insights for policymakers, technologists, and scholars in comprehending how cryptocurrencies like TrumpCoin can act as microcosms for the interplay between technology, politics, and society in an increasingly digital world.