Recent events in the world of cryptocurrencies have drawn public attention to the activities of a well-known political figure. Donald Trump is known to be involved in discussions related to digital assets. However, his statements about profits from Memcoin are causing controversy.
Launch and growth of Memcoin
At the beginning of the year, Trump launched his own Memcoin. In a short period of time, the token’s value soared to $73.43. The peak occurred on January 17, after which the rate dynamics changed. By the end of May, the token demonstrated significant growth after Trump offered to have dinner with the asset holders. However, the current value of Memcoin is $11.35, which is 85% lower than the peak.
Contradictory statements
Trump has repeatedly stated that he does not profit from Memcoin, but has not verified this statement. In an interview with Kristen Welker, the politician admitted that he does not know the exact value of his token.
Financial Aspects
The project associated with the memecoin has earned at least $350 million. Of this, $314 million came from the sale of tokens, and $36 million from fees. At the same time, two companies own 80% of the tokens, most of which are locked.
Criticism and conflict of interest
Trump has been repeatedly criticized for cryptocurrency-related deals, considering it a conflict of interest. Despite this, the politician reaffirmed his commitment to the industry, arguing that cryptocurrencies are important, and China can take over this industry.
It is worth noting that Trump also stated that the current US president’s position on cryptocurrency changed before the elections.
The situation around the memecoin and Trump’s statements raises many questions and discussions in society. The cryptocurrency sphere continues to develop, and such events highlight the need for careful analysis and understanding of all aspects of this phenomenon.
