Trump posted on his social media platform that he has launched a new crypto currency coin, the $Trump Coin.
This was Trump’s post on Social Truth. He wrote, “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!”.
The $Trump Crypto Coin also has its own website with information on the cryptocurrency at, https://gettrumpmemes.com/
The website also has a disclaimer stating that the coin is viewed as a form of expression and not an investment opportunity. Here is the full disclosure from the website;
“Trump Memes are intended to function as an expression of support for, and engagement with, the ideals and beliefs embodied by the symbol “$TRUMP” and the associated artwork, and are not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type. Get TrumpMemes.com is not political and has nothing to do with any political campaign or any political office or governmental agency. See Terms & Conditions Here, See Card Allocation Here”
According to CBS, the Trump crypto currency coin is viewed as ‘speculative trading’ and doesn’t hold value. But based on the website coinmarketcap.com, the coin’s market cap value stood at $6 billion by Saturday January 18th.
When the news of the Trump crypto coin first broke out, many people thought this was a scam and that the trumpmemes.com website was hacked/fraudulent. But it seems to be legitimate since this information is coming right from Donald Trump’s social accounts.
Forbes stated that “Solana, a cryptocurrency and blockchain platform, developed the meme coin and has limited the supply of $TRUMP to 200 million coins at launch before expanding the overall supply to 1 billion over the next three years, according to the coin’s website.” (Forbes)
It sounds like the coins are available, or will be available for purchase, but not intended to be looked at as an investment opportunity.
What do you think about the $Trump coin? Comment below.
Ref;
https://www.cbsnews.com/news/trump-launches-own-meme-coin-cryptocurrency/
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