Several crypto exchanges, including MEXC, Bitget, and OKX, have fast-tracked the listing of the $TRUMP token, despite internal concerns and regulatory hurdles.
Fast-Tracked Listing Process
Exchanges MEXC, Bitget, and OKX approved the $TRUMP token, despite internal concerns and, in some cases, regulatory limitations. In the U.S., some state residents were blocked from accessing the token entirely, while others could trade it freely.
Risks and Concerns
MEXC's Chief Operating Officer, Tracy Jin, acknowledged that the token did not meet the firm's usual criteria for its main board. However, strong customer interest outweighed these concerns. Bitget's CEO, Gracy Chen, also pointed out that around 80% of $TRUMP tokens are held by insiders, which poses a significant risk. 'Even with a lock-up period, that level of control is very risky,' she said.
Upbit's Decline and Other Exchanges' Reactions
South Korea's largest exchange, Upbit, declined to comment on any specific token but stated that it applies a 'rigorous and comprehensive evaluation process' for all listings. At OKX, the listing process moved at breakneck speed, taking just 26 hours, with legal and compliance teams working through the night to vet the decision.
The expedited listing of the $TRUMP token on crypto exchanges demonstrates significant user interest but also raises questions about the associated risks of token ownership concentration.
