In this news:
President-elect Donald Trump launched a Solana-based cryptocurrency, $TRUMP, on Friday. The announcement's veracity was confirmed by the fact that it was made using his official X (formerly Twitter) account. Days before his inauguration, this launch has generated a great deal of discussion and criticism. Coffeezilla Calls the Move "Historic in Its Stupidity" Coffeezilla, whose real name is Stephen Findeisen, reacted angrily to the news on Saturday. A YouTuber known for researching cryptocurrency ventures, Coffeezilla, called the launch "historic in its stupidity." He questioned its timing, arguing that it may indicate priorities that aren't aligned. "Did this guy want to do the presidency, or was this the meme coin hype plan?" he asked in his video. Key Details Exposed on $TRUMP Coin Important information on $TRUMP was disclosed by Coffeezilla in a follow-up video on his other channel, Voidzilla. He said that Trump's side controls 80% of the currency, resulting in an imbalance of power. He cautioned that novice purchasers would suffer large losses, even if some investors might make money. "A roasted man. The game is done." Coffeezilla said, "Obliterated," and cautioned newcomers to the cryptocurrency sector. Potential Legal and Ethical Concerns Raised Coffeezilla raised ethical concerns and questioned whether $TRUMP was lawful. He emphasized the dangers of insider control over the sales and distribution of the currency. He contended that these variables may disfavor regular investors. In light of Trump's impending presidency, the YouTuber also expressed worries on the conflict of interest. Massive Market Impact Despite Controversy In spite of the criticism, $TRUMP has quickly acquired popularity. It is one of the most popular meme currencies, with a market value of $14.5 billion and a trading volume of over $1 billion. One investment made $231 into $2.39 million, a return of more than 550,000%, according to statistics from Binance. Previous Crypto Investigations Add Weight to Claims Findeisen's critiques get respect due of his notoriety. He has previously looked at well-known projects, such as Hailey Welch's contentious $HAWK currency. His proficiency in spotting cryptocurrency frauds has highlighted the possible dangers of $TRUMP. Get Latest News Live on Times Now along with Breaking News and Top Headlines from US News, World and around the world.
