By Elizabeth Howcroft, Rae Wee and Michelle Conlin PARIS/SINGAPORE (Reuters) -U.S. President Donald Trump's newly created cryptocurrency soared on Monday to more than $10 billion in market value as he took office for his second term,

Awaiting Trump’s return to office, the cryptocurrency industry was thrilled by the president’s promises to provide clear-cut regulatory guidelines that would help the sector grow while easing the volatility it’s become notorious for.

The launch of $TRUMP, a meme coin associated with Donald Trump, has thrust the intersection of cryptocurrency, politics, and culture into the spotlight.