Crypto executives are worried that investors will lash out against them due to their association with Donald Trump’s cryptocurrency projects. This concern has been triggered by recent news about memecoin NFTs linked to the former US president. The memecoin craze, which involves trading and collecting unique digital tokens tied to popular culture or memes, has raised eyebrows among investors and traders.
Many of these executives fear that their reputation will be damaged if they are seen as having any involvement with Trump’s cryptocurrency ventures. As a result, some have taken steps to distance themselves from the projects or have been cautious in their public statements about the issue. The memecoin phenomenon has sparked debate within the crypto community, with some seeing it as a legitimate investment opportunity and others viewing it as a passing fad.
The concern among executives is not just limited to the potential backlash against them personally but also extends to the broader cryptocurrency market. If investors start to lose confidence in Trump’s projects or other memecoin ventures, it could have far-reaching consequences for the entire crypto ecosystem.
Source: https://www.ft.com/content/e6a776da-bd32-41d4-b093-68df8850e448