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Cryptocurrency News Articles
Coffeezilla Exposes Trump's $TRUMP Meme Coin, Warns of Ethical and Legal Concerns
Jan 19, 2025 at 12:05 am
YouTuber Stephen Findeisen, better known as "Coffeezilla," posted a video on Saturday in response to President-elect Donald Trump's recent launch of the $TRUMP meme coin.
YouTuber Stephen Findeisen, known as "Coffeezilla," has reacted to President-elect Donald Trump's recent launch of the $TRUMP meme coin.
Trump announced the Solana-based cryptocurrency on his official X (formerly Twitter) page on Saturday, confirming it was a legitimate announcement, not the result of a hack.
wtf is happening. https://t.co/REBfjJJME1
Findeisen, who has gained prominence for investigating cryptocurrency projects like the controversial $HAWK by Hailey "Hawk Tuah girl" Welch, expressed shock over the announcement. He described it as "historic in its stupidity" and questioned the timing, suggesting that launching a meme coin days before his inauguration raised serious ethical concerns. "Did this guy want to do the presidency, or was this the meme coin hype plan?" Findeisen remarked.
In a follow-up video on his secondary channel, Voidzilla, Coffeezilla revealed key details about the $TRUMP coin, including that 80% of it is controlled by Trump's team. He cautioned that while some crypto enthusiasts might profit, most regular investors, especially those unfamiliar with Solana or cryptocurrency in general, could lose money. "Roasted dude. Game over. Obliterated," he said, warning newcomers to stay cautious.
Findeisen also raised concerns about the legality of the coin, questioning whether it should even be permitted. He highlighted the potential conflict of interest, noting that insiders are in control of the coin's sale, leaving everyday investors at risk.
> dropping TRUMP memecoin 2 days before becoming president is nasty work
> new SEC/DOJ guarantees no prosecution
> 80% of tokens vest to insiders DURING the presidency
> most ppl losing money will be MAGA who aren't crypto native
> *should* be a crime but crime is legal now ig?
Despite these criticisms, $TRUMP has already gained significant traction, becoming one of the top meme coins with a market cap of $14.5 billion and over $1 billion in trading volume. According to Binance, one investor turned $231 into $2.39 million, marking a staggering return of over 550,000%.
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