US President Donald Trump has been accused of corruption over his new multibillion-dollar cryptocurrency meme coin, $TRUMP. Former government ethics officials and presidential experts have described the venture as a “shameful” conflict of interest, citing concerns that it could benefit from Mr Trump’s policies. The president had launched the coin ahead of his inauguration, with 80% of its tokens owned by an affiliate of his business.
Critics argue that Mr Trump’s actions are driven by profit and not public interest. Experts predict a high chance of civil lawsuits over the coin, given its volatile nature and lack of intrinsic value. The president’s cryptocurrency policies have been met with skepticism, with many viewing them as a means to further enrich himself.
The launch of $TRUMP has sparked alarm among former government officials, who see it as a major conflict of interest. One expert described it as “the single worst conflict of interest in the modern history of the presidency”. As Trump’s business empire seeks to raise funds from his new coin, critics worry that this could inflate his personal fortune.
The incident highlights concerns about Mr Trump’s priorities and how he balances public service with personal gain. His supporters have defended him, but many are worried that his actions will damage the reputation of cryptocurrency and the presidency.
Source: https://www.theguardian.com/business/2025/jan/21/trump-meme-crypto-coin-ethics