The post dYdX CEO on Meme Coins & Crypto’s Future Under Trump appeared on BitcoinEthereumNews.com.

Meme coins are a very young phenomenon in crypto. While today, they are largely associated with rug pulls and scams, they can evolve into something more meaningful.  BeInCrypto spoke with Charles D’Haussy, CEO of the dYdX Foundation, at Consensus Hong Kong about the future of meme coins and what the crypto industry can expect with Donald Trump in the White House. Next Steps for Meme Coins February was a particularly bad month for meme coins and their spillover effect on Web3 adoption.  The Libra scandal, spearheaded by Argentine President Javier Milei, led to over $250 million in losses for retail investors and left a sour taste in the crypto community’s mouth.  Many voiced concerns over how this rug pull might affect the perception of people who have never interacted with Web3 before and whether or not this will permanently deter them from ever doing so. However, it also left many players following an interesting thought pattern. First, President Donald Trump launched his meme coin two days before assuming office. Then, First Lady Melania Trump followed suit a day later. President Milei decided to follow their lead on Valentine’s Day.  Will this become the new normal for political figures? According to D’Haussy, it depends on how you look at it.  The TRUMP and MELANIA meme coins served as an interesting measurement of market sentiment. Launched strategically the day before the presidential pair took office, the tokens’ performance reflected this sentiment. The answer was clear: the crypto community was bullish for a Trump presidency.  The TRUMP meme coin also served as a real-time gauge of a politician’s performance and market trust. Trading, to an extent, was based on future political expectations.  TRUMP price fluctuations over the past three months. Source: CoinGecko. When Trump failed to mention crypto in his inaugural speech, trading…

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Filed under: News - @ February 26, 2025 3:23 pm