Robert Kiyosaki Criticizes Trump’s Memecoin, Questions Crypto’s Direction

Donald Trump’s recent launch of the TRUMP memecoin has stirred debate in the cryptocurrency world, with both its meteoric rise and ethical questions taking center stage.

The coin debuted on the Solana network, skyrocketing by 30,000% before suffering a significant correction. Meanwhile, author Robert Kiyosaki expressed skepticism, describing the crypto sector’s shift towards speculative assets as undermining its potential as the future of finance.

Kiyosaki, known for advocating tangible assets like gold, silver, and Bitcoin, suggested that memecoins like TRUMP reflect a troubling trend. Despite his concerns, TRUMP gained traction quickly, peaking at $75 before falling to $40. The drop coincided with investor interest shifting to MELANIA, another memecoin launched by incoming First Lady Melania Trump.

The coin’s structure, with 80% of its supply reportedly held in Trump’s wallet and no lockup period, has sparked criticism over potential manipulation. Platforms like Robinhood and KuCoin have still opted to list TRUMP, contributing to its partial recovery.

As Trump prepares to take office, his promises to promote crypto growth have raised questions about whether initiatives like TRUMP help or harm the industry. Critics remain divided on whether such speculative ventures detract from or contribute to crypto’s long-term legitimacy.