"We don't need it, we don't want it, and will not do business with them again," the president wrote in the post.

The new funding consists of a $50 billion investment from Amazon as well as $30 billion each from Nvidia and SoftBank, against a $730 billion valuation.

Trace is launching with $3 million in seed funding, including investment from Y Combinator, Zeno Ventures, Transpose Platform Management, Goodwater Capital, Formosa Capital, and WeFunder.

"The demand for tokens in the world has gone completely exponential," Nvidia CEO Jensen Huang said about the company's earnings.