The launch of meme coins associated with Donald Trump, including his $TRUMP coin, has led to substantial financial losses. The $TRUMP coin has plummeted 80% in value since its debut on January 17, dropping from a peak of $73.43 to just $11.27, wiping out over $12 billion in value. Similarly, Melania Trump’s $MELANIA coin has also suffered significant losses, with a $10,000 investment now worth only $652. Recent declines in Bitcoin and the broader crypto market have exacerbated concerns. California Rep. Sam Liccardo has introduced the MEME Act to prevent White House officials and their families from endorsing digital assets, citing potential corruption and conflicts of interest. As interest in Trump-related meme coins continues to wane, these concerns may become more pressing.
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