U.S. Representative Maxine Waters: TRUMP represents the "worst side of Crypto"

The Democratic leader of the U.S. House Financial Services Committee and California Representative, Maxine Waters, has responded to concerns from many cryptocurrency users and legislators who accuse Trump's launch of Meme coin as damaging legitimate projects in the cryptocurrency industry.

In a statement on January 20th, Waters said that Official Trump (TRUMP) represents "the worst side of Crypto," providing regulators and policymakers with a case for concern about the future of the cryptocurrency industry under new presidential leadership. She stated that after insiders at TRUMP dumped their tokens, investors will "pay for it," which is accused as a "rug pull."

She also said: "Even if buyers are deceived, the terms and conditions of the token prohibit them from initiating class action lawsuits." She added: “Buyers of this type of cryptocurrency also lack transparency, which is worrying. Through his Meme coin, Trump has created a way to evade national security and anti-corruption laws by allowing relevant parties to anonymously transfer funds to him and his inner circle.” (Cointelegraph)