Something smells fishy in the land of crypto, and Senator Elizabeth Warren is on the case. Recently, the President and First Lady Donald and Melania Trump decided to launch two meme coins, TRUMP and MELANIA, and now things are getting out of hand.
The TRUMP meme coin had a whopping market cap of $11 billion at one point, but it’s since corrected by more than 50% and is now trading under $34. Meanwhile, Elizabeth Warren is asking the government to investigate the whole shebang.
“The meme coin has massively enriched Trump personally, enabled a mechanism for the crypto industry to funnel cash to him, and created a volatile financial asset that allows anyone in the world to financially speculate on Trump’s political fortunes.” – Elizabeth Warren
Senator Warren thinks that the Trump meme coin is a clear example of a conflict of interest, especially considering the President’s role in appointing leaders to regulatory agencies. But David Sacks, a crypto expert, disagrees. He claims that the TRUMP meme coin is just a collectible, like a baseball card, and doesn’t pose a conflict of interest.
It’s worth noting that Representative Maxine Waters, the leading Democrat on the US House Financial Services Committee, called the Trump meme coin “the worst of crypto” back in January 2023. Looks like things are heating up in the world of crypto!
Here are the key details of the TRUMP meme coin:
Market cap: $6.71 billion
24h volatility: 8.1%
Vol. 24h: $4.65 billion
Will this lead to a probe into the TRUMP meme coin? Only time will tell. Stay tuned for further updates on this developing story!
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2025-01-24 18:12