The $Trump cryptocurrency, launched by Donald Trump shortly before his presidency, has become a significant source of trading fees. However, small traders are facing losses.
Financial Achievements of Trump's Memecoin
According to Reuters, the $Trump cryptocurrency generated approximately $100 million in trading fees within two weeks. The crypto exchange Meteora played a key role in collecting fees.
Ethical Questions and Response
Donald Trump's involvement in the crypto sector raises concerns among ethics analysts. Trump aimed to be the 'crypto president'. However, as reported by Reuters, the White House dodges questions regarding his crypto initiatives.
Downturn in Memecoin Crypto Market
Recently, the $Trump price dropped by 35%, and the 'Official Melania' memecoin's price fell by 80%. The overall market capitalization decreased by 14%, partly due to the fall of popular tokens.
Trump's venture into cryptocurrencies leads to financial success for large players but poses significant risks for small investors. Ethical questions and the volatility of the meme coin market make this topic a subject of active discussion.
