President Trump’s cryptocurrency meme coin $TRUMP has already earned him billions of dollars on paper, but this is one of the most controversial investments ever made by a commander-in-chief. Trump has a long history of cashing in on his personal brand through products like shoes, guitars and bibles, but to many in the crypto world, his meme coin ventures are his most naked and predatory money grab yet. Once a bitcoin skeptic, Trump has promised to make the U.S. “the crypto capital of the planet.”
WSJ explores why the Trump meme coin and Melania meme coin are so unprecedented and why they’re so controversial to the crypto industry.