By Elizabeth Howcroft, Rae Wee and Michelle Conlin PARIS/SINGAPORE (Reuters) -U.S. President Donald Trump's new crypto token soared to more than $10 billion in market value on Monday, while enthusiasm over his crypto-friendly administration helped briefly lift bitcoin to a new record.

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.