The TRUMP coin, launched on January 17, 2025, by Donald Trump, has faced criticism from crypto industry insiders, particularly those who support him. The coin skyrocketed from $7 to $75 within 24 hours before stabilizing at $38. Critics voice concerns over potential conflicts of interest and the ability for individuals to influence the president through coin purchases. Notably, Anthony Scaramucci, a former White House communications director, highlighted that such transactions could potentially sell favors to global entities. The release of a related coin, MELANIA, by First Lady Melania Trump, received even harsher scrutiny, as it suffered price decline and had significant insider control of its tokens. Critics within the industry argue that these ventures promote a get-rich-quick mentality, which undermines the integrity of blockchain technology. Furthermore, concerns over token distribution were raised, with reports indicating 80% of TRUMP tokens being held by a few individuals, raising suspicions about possible pump-and-dump tactics. In contrast, MELANIA's distribution did not align with its official claims, amplifying distrust. Overall, the crypto community remains skeptical of the Trump family's involvement in the crypto industry due to perceived conflicts and a focus on profit over innovation.

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