A meme coin called America Party (AP) has launched today on the Solana blockchain, and the new offering has seen an overwhelming gain of over 537% within the first 24 hours, according to data from CoinMarketCap.

The billionaire says the America Party aims to disrupt U.S. politics, but with no candidates yet and major ballot hurdles ahead, its future remains uncertain.

President Trump slammed the tech billionaire's announcement that he's forming a third political party. Here's what to know about the America Party.