Recently, Donald Trump, who gained support with his positive stance on cryptocurrencies, launched his own memecoin called Official Trump (TRUMP), sparking considerable discussion.
Launch of TRUMP Memecoin
Donald Trump launched the memecoin Official Trump (TRUMP) just days before his official inauguration, gaining much attention. Following its release, the token's price saw a sharp increase but soon experienced a significant drop, leaving investors in a challenging position.
Criticism and Investigation Calls
As controversies surrounding TRUMP grow, Public Citizen, a US-based non-profit think tank, has called for a federal investigation into the introduction of the TRUMP token. The organization also wants an investigation into social media posts promoting memecoins, suggesting Trump's actions could violate federal law.
Future Steps and Public Citizen's Requests
Public Citizen addressed a letter to John Keller, Chief of the Public Integrity Section of the U.S. Department of Justice, and David Huitema, Director of the Office of Government Ethics, demanding the cessation of TRUMP sales and refunds for everyone who purchased it.
Trump's TRUMP memecoin faces scrutiny and legal demands. As discussions continue, the long-term impact of such a move remains to be assessed.
