Donald Trump published a post in his own social network TruthSocial, writing: “I love $ TRUMP – it is so cool !!! The greatest of all !!!!!!!!!!!!!!! ”. After that, the token per day grew by 8.61%, briefly exceeding $ 12.25, and later adjusted to $ 11.82. The Trump market capitalization is now $ 2.36 billion. Nevertheless, the memcoin is traded 84% lower than its historical maximum of $ 73.4, reached in January, shortly after its launch.
Directly promoting his own token, Trump again attracted the attention of some industry observers. Digital media lawyer and general director of the AR Media consulting company Andrew Rossow said that Trump’s actions are creating a dangerous precedent for using a public position to obtain personal financial benefits. Even if the token website claims that it is not intended for investment, its value is inextricably linked with Trump’s personal brand, the lawyer explained.
The current president is forbidden to benefit from domestic organizations or foreign governments without the approval of the congress. The structure of Trump token allows you to anonymously acquire it to foreign entities, which thereby have an unlawful effect on US policy. In addition, Trump’s support for a financial product related to its personal wealth undermines the trust in the US Securities and Exchange Commission (SEC) and the US commodity futures (CFTC), Rossou noted.
Recently, Cofense cybersecurity specialists warned of scammers who pretend to be Binance crypto -tanks. They offer potential victims the “profitable purchase” of Trump Memcoirs, convincing them to establish an infected program.
Source: Bits
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