Summary
- President Donald Trump's launch of the TRUMP meme coin has sparked criticism in the crypto industry.
- While meme coins are a representative use case of blockchain technology, they can undermine trust.
- The launch of the TRUMP meme coin could lead to potential conflicts of interest.
On the 22nd (local time), cryptocurrency-focused media outlet CoinDesk reported, citing industry experts, that "as U.S. President Donald Trump announced the launch of the Official Trump (TRUMP) meme coin, some voices in the crypto industry are criticizing it."
The media stated, "Meme coins are a representative use case of blockchain technology," but also noted, "However, for many developers, meme coins can be perceived as a means to get rich quickly."
It continued, "This could result in undermining the credibility of the crypto industry, and the launch of the TRUMP meme coin could lead to conflicts of interest among meme coin stakeholders in the future."
Anthony Scaramucci, founder of the U.S. hedge fund SkyBridge Capital, pointed out, "The biggest issue with President Donald Trump launching the TRUMP meme coin is that anyone in the world can deposit money into the U.S. President's account with just a few clicks."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
