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.
A crypto venture connected to the Trump family is quietly preparing for a major pivot—one that could take it from an obscure governance experiment to a publicly traded token with institutional backing.
Digital banking platform SoFi Technologies is making a strong return to the cryptocurrency space, relaunching its crypto trading and blockchain services after stepping away from the sector in late 2023.
Solana (SOL) has gone down by nearly 21% in the past month as rising tensions in the Middle East triggered some selling pressure for cryptos. After the cease-fire agreement between Iran and Israel, the token recovered some of the territory it had lost and now trades above a key support at $140. Market participants are […]
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