Crypto industry experts slam Trump's meme coin launch, as critics warn about potential risks and ...

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Crypto industry experts slam Trump's meme coin launch, as critics warn about potential risks and conflict of interests

January 21, 2025

The cryptocurrency meme coins $TRUMP and $MELANIA, launched by President Donald Trump and First Lady Melania Trump, have experienced significant price fluctuations. The $TRUMP coin, which reached a peak value of around $75, has fallen by over 50% to approximately $40, while the $MELANIA coin has also seen a substantial decline.

Meme coin is a cryptocurrency with no economic or transactional value often linked to internet personalities or trends such Dogecoin which was inspired by the image of a shiba inu dog. $TRUMP was launched by the then president-elect over the weekend days before he was sworn in Monday as the 47th president.

Experts have warned about the potential risks and conflicts of interest associated with the launch of these meme coins, particularly given President Trump’s plans to deregulate the crypto industry. Some have criticized the timing of the launch, just days before the inauguration, as potentially predatory and harmful to investors.

Non-bitcoin cryptocurrencies or 'shitcoins,' experts warn, could delegitimize the industry as a whole if governments don't intervene to establish clear regulations to protect investors and create a stable environment for companies.

The price of Bitcoin has surged in anticipation of a crypto-friendly Trump administration, currently at $105,000.

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"Two minutes into its burn, a flash was observed in the aft section of the vehicle near one of the Raptor vacuum engines; Sensors in the attic detected a pressure rise indicative of a leak after the flash was seen.

"Roughly two minutes later, another flash was observed followed by sustained fires in the attic. These eventually caused all but one of Starship’s engines to execute controlled shut down sequences and ultimately led to a loss of communication with the ship

"Telemetry from the vehicle was last received just over eight minutes and 20 seconds into flight.

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"The most probable root cause for the loss of ship was identified as a harmonic response several times stronger in flight than had been seen during testing, which led to increased stress on hardware in the propulsion system. The subsequent propellant leaks exceeded the venting capability of the ship’s attic area and resulted in sustained fires.

"All debris came down within the pre-planned Debris Response Area, and there were no hazardous materials present in the debris and no significant impacts expected to occur to marine species or water quality.

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The 31-year-old publicly revealed Musk as the father of her child on Valentine's Day, on social media. Musk has not publicly acknowledged the child or the lawsuit

St Clair left Musk's name off the birth certificate due to security concerns, citing Musk's claim of receiving credible death threats every day. The social media influencer and Musk began their romantic relationship in May 2023.

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