President Donald Trump's Official Meme Coin Isn't Just Rubbing Some Cryptocurrency Executives the Wrong Way -- It's Also Annoying Some of His Run-of-the-mill MAGA Supporters

The Guardian has flagged some comments posted on a pro-Trump subreddit recently that show disillusionment with Trump's decision to launch his own digital currency

President Donald Trump's official meme coin is rubbing some cryptocurrency executives the wrong way -- and it's also annoying some of his run-of-the-mill MAGA supporters.

The Guardian has flagged some comments posted on a pro-Trump subreddit recently that show disillusionment with Trump's decision to launch his own digital currency, which surged in value shortly after being released only to see its price plunge in the following weeks.

Many MAGA fans on the subreddit believed that Trump's meme coin was a quick cash-grab at the expense of his fans, many of whom may have plugged significant chunks of cash into it early on, only to see its value quickly evaporate.

Among other things, posters on the forum described the coin as "degrad[ing] to the office of the Presidency,” “a lame money grab,” “a bad idea with a million ways to go wrong and derail his second term,” “shady,” and “kinda gross."

One poster on the forum wrote, "I'm honestly surprised no one has brought up the crypto yet. It's degrad[ing] to the office of the Presidency. A lame money grab that will piss off his base and make it harder for him to win in 2024. A bad idea with a million ways to go wrong and derail his second term. It's shady, kinda gross, and will 100% end up hurting Trump and his supporters in the long run."

Another poster argued that Trump's meme coin "looks bad and is bad," while yet another declared that "this crypto is the most blatant Ponzi scheme in history and we are the marks."

These criticisms haven't stopped Trump and his business partners from further getting into the cryptocurrency business, writes The Guardian.

"On Tuesday, the Trump Media and Technology Group, which operates Trump's social media platform Truth Social, announced the launch of a financial technology brand called 'Truth.Fi,' through which the company plans to invest up to $250m in crypto-currencies and 'crypto securities,' and other investment accounts," the publication writes.