TRUMP Coin: Market Volatility and Public Perception

Since its release the TRUMP coin has been very volatile. Pump and dump schemes have been reported and the coin is competing with other meme coins like MELANIA.

Crypto law advocate John Deaton has suggested that the profits from the recently released TRUMP coin should be donated to charity.

In a Monday Substack post, Deaton, who is representing XRP holders in the ongoing SEC lawsuit, suggested that former President Donald Trump and his team should use the revenue from the TRUMP coin for disaster relief efforts.

“This would demonstrate the good side of blockchain while putting America first,” wrote Deaton, adding that the TRUMP coin could set a precedent for using crypto to solve problems in society.

Deaton’s call for transparency and community benefits comes amid a heated debate over the listing of meme coins on major crypto exchanges. The TRUMP coin, which is designed to pay homage to the former president, has been listed on several exchanges, including Coinbase and Kraken.

However, the coin has also drawn the ire of some financial experts. Investor Mark Cuban has called the TRUMP coin “embarrassing” but said it’s good to see the US is evolving on fintech. He even suggested he would create his own meme coin and donate the proceeds to the US Treasury to pay off the national debt.

The TRUMP coin is surging in value as traders speculate on the next move in the meme coin market. However, the coin has also attracted attention from regulators. The SEC is reportedly investigating the TRUMP coin and other meme coins to determine whether they are securities.

The listing of meme coins on major crypto exchanges has sparked a debate over innovation and regulation in the crypto space. Some, like Deaton, argue that exchanges should be able to list any digital asset as long as they comply with the laws. Others contend that meme coins are a threat to the crypto markets and should be banned.