Crypto Execs Unamused by Trump Meme Coins
The cryptocurrency industry is a fan of incoming President Donald Trump, but Trump’s new meme coin is a different story.
The new $TRUMP coin sparked criticism from crypto executives who had anticipated that their sector would be treated seriously under the new administration, Bloomberg reported Monday (Jan. 20).
Trump debuted the token Friday (Jan. 17) with his wife Melania introducing her own meme coin the following day.
The meme coin sector is divisive as it fuels criticism that the crypto industry is frivolous and risky, the report said. Meme coins depend on social media momentum that can fade as fast as it materializes.
Balaji Srinivasan, an angel investor and former chief technology officer at Coinbase, posted on social…
