President-elect Donald Trump announced the launch of the TRUMP memecoin, signaling a shift in the US approach to crypto regulation.
Launch of TRUMP Memecoin
On January 17, Donald Trump launched the TRUMP memecoin, marking a significant moment in the crypto industry. Representatives of the incoming administration indicated that this move symbolizes a new attitude towards cryptocurrencies in the US.
Expert Opinions on Legal Issues
Attorney David Lesperance expressed concerns about the legality of the TRUMP memecoin. He noted the restrictions set by the US Constitution to prevent foreign influence on American officials. It's unclear whether new Attorney General Pam Bondi will take action.
Market Reaction to TRUMP
The TRUMP memecoin sparked a market frenzy after its authenticity was confirmed by the Trump family. The token's price surged by over 12,500%, reaching a high of $35 before falling by 35%. At the time of writing, the token is trading around $27.
The launch of the TRUMP memecoin has opened a new chapter in the US crypto industry, eliciting varied opinions and market activity.
