Cryptocurrency Enthusiasts Disappointed in Trump for His Memecoins

The newspaper notes that these tokens increased in price over the weekend: TRUMP’s total face value reached $14.5 billion and MELANIA’s almost $3 billion. However, within a few days they lost more than half their value, leading to accusations against them. Trump of a conflict of interest and concerns that thousands of investors have been lured into trading tokens that are even more volatile than Bitcoin, writes the Financial Times.

“Call me old-fashioned, but I think presidents should focus on governing the country. Not to mention the obvious [конфликте интересов]given that Trump can determine cryptocurrency policy,” said Nick Carter, founding partner of cryptocurrency venture firm Castle Island Ventures, in a conversation with the newspaper.

The publication noted that memecoins do not generate cash flow, they do not have any business model or practical application that justifies their value, so the value of said assets is determined solely by their popularity, which is often as fleeting as memes. that they symbolize.

Additionally, several US lawmakers fear that retail traders could lose large sums of money trading memcoins, the FT writes.

“This memcoin is the worst of the cryptocurrencies. “Trump has created a way to circumvent national security and anti-corruption laws by allowing interested parties to transfer money anonymously to him and his inner circle,” the congresswoman and member of the House Financial Services Committee told the newspaper. Representatives, Maxine Waters.

On January 16, Bloomberg, citing sources, wrote that Trump plans to issue an executive order in which cryptocurrencies will be recognized as a “national priority.” Additionally, according to the agency, the inclusion in the decree of a directive addressed to all government agencies on the review of policies relating to digital assets and the possible suspension of any litigation related to cryptocurrencies is discussed.