Donald Trump’s Crypto Memecoin, $TRUMP, is a Scam to Fleece His Followers
The president’s decision to release the $TRUMP memecoin on inauguration weekend shocked even some of his top supporters in the crypto-currency industry.
Such memecoins are often called “shitcoins,” for good reason: any given token has no more inherent value or utility than another—which is to say, no value at all. They’re only distinguished by the name on the label and how much money their issuers manage to fleece from individual speculators before the coin’s value inevitably plummets toward zero. Often, a memecoin’s lifespan can be counted in minutes or even seconds.
