Last updated: January 22, 2025
Rivalry has introduced the $TRUMP cryptocurrency as a new payment method, coinciding with Donald Trump’s inauguration as the 47th US President. Despite recent financial challenges and layoffs, the company aims to stay at the forefront of innovation by leveraging memecoin culture and timely market trends.
In a bold marketing move, Rivalry, the leading iGaming and sports betting website targeting the youth, has announced that it is now accepting $Trump as a valid payment method through which customers can deposit and withdraw funds on the site, according to an email press release received by Casino Guru News.
Both the incoming and former First Lady, Melania Trump, unveiled the $TRUMP currency on the eve of Donald Trump’s inauguration as the 47th President of the United States. Curiously, Trump was the 45th President from 2016 to 2020 when he lost to Joe Biden in the 2020 election.
Now, though the current former President is back and the launch of the $Trump token has coincided with his inauguration. Rivalry has wasted no time, even though the token itself was announced less than 48 hours ago and has already given it the benefit of the doubt, confident that it would be a great pick to feature.
However, Rivalry Chief Executive Officer and Co-Founder Steven Salz is a fan of reading up on the subject of cryptocurrency and can see that the $Trump token is a product of the meme coin culture. In this regard, Salz added:
Meme coins are attention monetized, and the release of $TRUMP just days before an Inauguration is a quintessential internet and crypto culture-driven moment that enabled it to eclipse $30 billion in fully diluted value shortly after its debut.
Rivalry was one of the first pioneering iGaming and sports betting platforms to integrate $Trump within 24 hours of the token’s launch. This move aimed to give its users a chance to “lean into these universal cultural moments,” all with the intent of offering unparalleled experiences to registered players.
Rivalry, akin to other companies within the sector, has encountered certain challenges. A private placement deal anticipated to generate C$4.2 million ultimately fell short of expectations, raising only C$3.32 million, which has significantly undermined investor confidence.
Nevertheless, Rivalry’s enthusiasm for innovation remains unimpeded by previous challenging decisions.
On its part, Rivalry also provided two rounds of layoffs in 2024-the first one in July when 29 people were let go, and the second one in October, when another 28 people followed. Salz was soberingly pragmatic on the occasion, arguing that the company had completed restructuring itself to focus on a new strategic path that the company is exploring.
The platform became the first extensive esports betting platform to garner considerable commercial success. Rivalry expanded over time into other traditional industries such as online casinos and sports betting, but maintained its unique style throughout.
The recent launch of the $Trump token is yet another innovative move from Rivalry; however, the willingness of investors to support the company may ultimately determine its success.
