Even First Lady Melania Trump issued her own meme coin, "MELANIA," raising issues of conflict of interest and excessive commercialization.
As of 3:17 p.m. on the 20th, the price of the CoinMarketCap benchmark "TRUMP" rose 792% from its issue price.
The price of the cryptocurrency is now at $75.08 (approximately 8,985 yen). It rose to $75.08 the previous day, up 960% from the issue price. On the 18th (local time), Trump announced that he would be taking over social networks such as TrueSocial and X.
Through social media, he shared the meme coin "TRUMP" sales website and left the message, "Celebrate the victory. Join the TRUMP community."
Trumpcoin saw a huge increase in trading volume immediately after its release, and rose to 18th place in the global market capitalization rankings.
At times, the trading volume of Zico exceeded that of Dow Jones Industrial Average. Initially, it was only traded on the Solana-based decentralized exchange (DEX), but large overseas centralized exchanges such as Binance and OKEx have started to trade.
Trump Coin was listed early on. After Trump Coin became a big hit over the weekend, Melania Trump also issued a meme coin. On the 19th (local time), Melania Trump issued her own coin on X.
The company posted a message promoting the meme coin "MELANIA" that was created. President Trump reposted it. Melania Coin also soared after its release, rising 46.87% from its issue price on October 10.
The coin is currently trading at $76. There are criticisms that the presidential family is actively issuing coins and using politics in their family business, creating a conflict of interest.
According to the Trump Meme Coin website, the coin will have a launch supply of 200 million coins, with plans to expand the total supply to 1 billion over three years.
Of these, 80% of the coins that have not yet been released to the market are being managed by CIC Digital LLC, an affiliate of Trump's personal company, the Trump Organization, and the company, F.
The company is owned by Go for it LLC. This is the background to the criticism that he is using his position as president for his family business.
In addition, some have argued that "TRUMP" and "MELANIA" may be securities.
Alexandra Andhov, a law professor at the University of Oakland, wrote in a Forbes article that "the meme coin T
The court argued that RUMP could be considered a security under the subtest (the standard for applying the U.S. federal securities laws). According to the subtest, △money is invested, △that money is
If it is used in a joint venture, if there is an expectation of profit from the investment, and if that profit is generated through the efforts of others, it is considered a security.
Since coins can be purchased, it is considered a financial investment, and it is clear that the Trump family's affiliates own 80% of the coin supply, and that investor funds are involved in joint ventures.
In addition, the Trump family has been actively involved in the sale and marketing of the coins, and investors expect to make profits from price fluctuations, which could lead to the coins being considered securities.
However, Trump's side is of the position that meme coins are not securities. The Trump Meme Coin website states, "Trump Meme Coin is a cryptocurrency that uses the name $TRUMP and
The statement clearly states that the tokens are "designed as a symbol of support and participation in the cause of Trump and are not the subject of an investment contract or securities."
2025/01/21 09:48 KST
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