Trump’s meme coin is a reminder of crypto’s dumbest use case
The Trump administration, which officially entered the White House on Monday, didn’t respond to CNN’s request for comment.
The dangers of meme coins
The global $3.5 trillion crypto market is a big tent, and while tokens like bitcoin dominate the industry, the open-sourced, decentralized nature of the blockchain, crypto’s infrastructure, makes it easy for any developer to launch a token, run up the price and walk away with impunity. According to Forbes, between 40,000 and 50,000 new meme coins are created every day, with a combined market value of $100 billion.
Donald and Melania Trump launch a pair of meme coins ahead of inauguration, raising serious ethics concerns
The Trump administration, which officially entered the White House on Monday, didn’t respond to CNN’s request for comment.
The dangers of meme coins
The global $3.5 trillion crypto market is a big tent, and while tokens like bitcoin dominate the industry, the open-sourced, decentralized nature of the blockchain, crypto’s infrastructure, makes it easy for any developer to launch a token, run up the price and walk away with impunity. According to Forbes, between 40,000 and 50,000 new meme coins are created every day, with a combined market value of $100 billion.
Donald and Melania Trump launch a pair of meme coins ahead of inauguration, raising serious ethics concerns
