The post Trump Family’s dual coin launch draws fire for conflicts of interest and cash grabs appeared on BitcoinEthereumNews.com.

The Trump family’s back-to-back meme coin launches — TRUMP and MELANIA — have triggered market chaos, social media backlash, and growing concerns about conflict of interest. From TRUMP to MELANIA The Trump family has expanded its presence in the crypto world, unveiling two meme coins in rapid succession. On Jan. 17, President-elect Donald Trump announced the launch of Official Trump (TRUMP), a meme coin built on the Solana (SOL) blockchain.  Just two days later, on Jan. 19, Melania Trump followed with the release of her own token, Melana Meme (MELANIA), also based on Solana. Trump’s announcement of TRUMP came via his social media platform, Truth Social, with a direct call to action: “It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community.” Within days of its release on Jan. 19, the token surged to an all-time high of $75, reaching a staggering market cap of nearly $15 billion. As of Jan. 20, the price has settled at $60, making TRUMP the 18th most valuable crypto by market cap.  This rapid rise — an 840% increase from its all-time low of $6.24 on Jan. 18 — turned the $TRUMP token into a sensation overnight. Traders quickly capitalized on the coin’s volatility. Barstool Sports founder Dave Portnoy bought 500,000 TRUMP tokens at $24.80 and reported a 200% gain when he sold them within a day. I just woke up. Checked $trump coin. I’m up 200% since I bought it yesterday. Sold it. Made a quick milly. Prob gonna put it on the Bills tonight. I love Trump’s America! Now I’m going back to sleep. 🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸 https://t.co/lVfSt9HgNF — Dave Portnoy (@stoolpresidente) January 19, 2025 Amid all this, Eric Trump described the token as the “hottest digital meme on earth” and echoed the enthusiasm surrounding the project on social…

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Filed under: News - @ January 20, 2025 9:21 pm