Trump Family's Meme Coins Face Widespread Controversy After Launch

The past few hours have seen the rapid launch of the TRUMP and MELANIA coins, raising questions about the timing and potential risks involved.

The timing of the launch of the two coins is carefully considered and took place hours before Donald Trump’s presidential inauguration.

The preemptive launch is believed to be aimed at avoiding constitutional violations that could be accused of personal gain during the presidency, especially with Trump’s previous NFT earnings reaching $7.2 million and Melania’s earnings exceeding $330,000.

Legal challenges also include the possibility of the two coins being subject to SEC oversight due to their potential classification as securities.

The complexities of tax compliance also raise questions about the taxes associated with profits and the gradual opening of the currency.

Politically, concerns loom over the use of the coins to circumvent election donation rules.

While price volatility could also affect Trump’s political reputation, the project is under heavy scrutiny.