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The crypto community is rightfully unhappy with Trump's TRUMP memecoin

The crypto community is rightfully unhappy with Trump's TRUMP memecoin

HappyCoinNewsHappyCoinNews2025/01/20 05:55
By:HappyCoinNews

This weekend, future US President Donald Trump introduced memcoin , which, however, did not receive universal approval. Numerous cryptocurrency supporters expressed their disapproval due to the distribution of approximately 80% of the supply among insiders.

Critics have called the launch unethical, and while the coin has seen a significant rise in value, many are speculating that a sharp decline is inevitable.

I don't like it. I understand that it's probably being done to add excitement to the start of a new era, but it seems unethical. In my opinion, it's a costly mistake," said a senior analyst at ETF at Bloomberg Intelligence Eric Balchunas.

Skybridge Capital CEO Anthony Scaramucci also expressed his disappointment:

This Trump meme coin thing is bad for the industry. Don't kid yourself. It's Idi Amin level corruption.

True, some of his subscribers believed that the head of the investment company actually regretted the lost profit.

Coffeezilla, known for exposing scams in the memecoin sector, is also unhappy with the token's issuance, calling it a crime that will be legalized under Trump.

The neat trick with Trump's Memcoin is that if the pump and dump of Memcoins is found to be criminal, Trump can simply pardon himself and everyone involved. Trump is the only person in the world who can launch coins without legal uncertainty, wrote tradingstrategy.ai co-founder Mikko Ohtamaa.

Bitcoin supporter Hasu went so far as to call Trump's memecoin stupid. He believes that if Gary Gensler had set reasonable rules during his tenure, "we wouldn't be seeing such acts of mindless defiance now. The range of acceptable projects would be much more committed to quality and less prone to vulgarity."

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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