The controversial memecoin, TRUMP, launched by Donald Trump on the eve of his 2025 inauguration, has faced criticism from crypto enthusiasts. The token saw a significant price surge, reaching an all-time high of $75 before settling at $38. However, concerns have been raised about conflicts of interest and the potential for individuals to buy favors from the president. The launch of the memecoin has also sparked criticism within the crypto industry, with some arguing that it undermines the sector's credibility. Specific concerns have been raised about the distribution of TRUMP tokens, with 80% concentrated in a small number of addresses controlled by the firm that launched the coin. While there is no evidence of a "pump-and-dump" scheme, the concentration of tokens raises questions. The launch of MELANIA, a coin endorsed by First Lady Melania Trump, has further fueled criticism of the Trump coin, with 89% of MELANIA tokens controlled by insiders. The involvement of Trump and his sons in the crypto industry has previously attracted scrutiny, particularly their pre-sale of tokens for a lending product that had yet to deliver any tangible value. Concerns about conflicts of interest were raised, and the involvement of a former dating coach and memecoin promoter on the project's team also drew criticism.



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