Trump's crypto tokens are raising ethical and geopolitical concerns--and are worrying even Trump's staunchest pro-crypto supporters

The launch of $TRUMP and $MELANIA crypto coins has disappointed some in the crypto industry, who fear they amplify the sector’s sillier and scammier side.

The driving force behind meme coins and why the launch of Donald and Melania Trump meme tokens sparked an outcry.

President Donald Trump’s goodwill in the cryptocurrency industry has taken a hit after he and his wife launched meme coins — a move critics say looks like an unseemly cash grab that undermines an effort to legitimize digital assets.

Crypto analysts report 6,800 fraudulent tokens and 91 fake dApps since $TRUMP made its $72 billion debut, as reported by Crypto News. The coin, which President Trump admitted himself that he “didn’t know much about,” was launched to great success, achieving a market cap of $72 billion 48 hours before its launch.

The token started to bounce back after SEC acting Chair Mark Uyeda unveiled a new team tasked with “developing a comprehensive and clear regulatory framework for crypto assets.”

Trump fuels meme coin deluge as Coinbase CEO says there’s 1 million new cryptocurrencies created every week - Marketing is struggling to cope with influx of new cryptocurrencies