Cryptocurrencies
Crypto Executives Warn Trump’s Memecoins Harm the Industry
- Tokens from Trump and his wife rattle the crypto market
- They risk stoking criticism of digital assets as frivolous
This article is for subscribers only.
Donald Trump and his wife Melania’s new memecoins ignited criticism from crypto executives who were expecting the digital-asset sector to be treated seriously by the Republican’s incoming US administration.
The president-elect unveiled the “Trump” token on Friday and his wife Melania launched her “Melania” effort on Sunday. The Trump memecoin’s market value hit $15 billion at one point but then briefly slid below $8 billion as Melania’s token took some of the spotlight, figures from aggregator CoinMarketCap show.