😳 Trump and Melania Launch Crypto Coins

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Hey Waivly Crew! 🌊 In today’s edition, we’ve got a variety of topics to explore.

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Here’s what’s on the horizon today:

• Donald and Melania Trump launch a pair of meme coins

• China suggests it’s open to a US deal for TikTok

• Meta announces a new CapCut rival called Edits

Let’s dive in!

STORIES MAKING A SPLASH

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Donald and Melania Trump launch a pair of meme coins

Donald Trump’s “meme coin” launch has catapulted him into the ranks of the world’s wealthiest individuals. The $Trump coin, introduced on Friday, quickly surged in value, bringing his holdings to an estimated $43 billion. With 200 million tokens currently circulating and a planned 1 billion total, the coin’s market value now stands at $10.7 billion.

CIC Digital, an affiliate of the Trump Organization, and Fight Fight Fight LLC hold the remaining 800 million tokens, which could push Trump’s wealth to a potential $50.1 billion. This fortune would place him 26th on the Bloomberg Billionaires Index, just behind Stephen Schwarzman.

Meanwhile, Melania Trump launched her own meme coin, which has also seen a significant rise in value. This surge in the cryptocurrency market comes as Bitcoin hits an all-time high of over $109,000.

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China suggests it’s open to a US deal for TikTok

China signaled a willingness to reach a deal that keeps TikTok running in the US, softening its previous opposition to a forced sale. After President-elect Trump suggested a 50-50 joint ownership between US and Chinese interests, China’s stance shifted, stating business decisions should be made independently, in line with market principles and Chinese law.

Chinese Foreign Ministry spokesperson Mao Ning highlighted TikTok’s positive impact on US employment and consumption, urging the US to offer a fair and non-discriminatory environment for international businesses.

A new US law banning TikTok took effect on Sunday, briefly taking the app offline. Service was restored hours later after Trump pledged an executive order to delay the ban, creating time to negotiate a deal to protect national security, without liability for companies involved.

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Meta announces a new CapCut rival called Edits

Meta has announced a new video editing app, "Edits," following the removal of ByteDance’s CapCut from major app stores amid the TikTok ban. Instagram head Adam Mosseri revealed on Threads that Edits will debut on iOS next month, with an Android version to follow. Select creators are already testing the app to refine its features.

Edits will offer tools tailored for creators, including a dedicated tab for inspiration, idea tracking, and a high-quality camera. Users can share drafts with collaborators and access performance insights for videos published on Instagram. Mosseri emphasized the app is designed for creators rather than casual users.

This move aligns with Meta’s history of capitalizing on market gaps, such as launching Instagram Reels after TikTok’s India ban. With CapCut’s uncertain future, Meta aims to attract creators seeking robust editing alternatives.

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