The President-elect Donald Trump has launched a cryptocurrency called $TRUMP just days before his second inauguration, causing shockwaves in political and financial circles. The value of the meme coin tripled within 48 hours, raising concerns about the intersection of presidential power, securities law, and market integrity. The structure of the $TRUMP token raises questions about whether it meets the definition of a security under the Howey Test. The imminent leadership transition at the SEC could lead to a change in cryptocurrency regulation, as Paul Atkins is nominated as SEC Chair. However, the Howey Test remains the cornerstone of securities regulation. The launch of $TRUMP represents a concerning fusion of personal enrichment and political power, raising questions about conflicts of interest. The cryptocurrency community is divided over the launch, with some seeing it as a positive moment for mainstream adoption and others viewing it as a dangerous precedent. The integration of business and politics in the digital age raises concerns about societal complacency.



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