Trump Publicly Endorses His Own Memecoin
U.S. President Donald Trump has taken his public support for cryptocurrency to a new level by praising the TRUMP memecoin, a Solana-based digital token reportedly controlled in large part by individuals affiliated with his campaign and inner circle.
Posting on TruthSocial, Trump declared:
"I LOVE $TRUMP HE'S SO GREAT!!! The Greatest Of Them All!!!!!!!!!!!!!!!"
His statement triggered an immediate market response — the TRUMP token rose 8.61% in 24 hours, briefly hitting $12.25 before pulling back to $11.82, with its market cap reaching $2.36 billion. Despite the surge, the token remains down 84% from its January peak of $73.40.
Concentration and Control: 80% of Tokens Held by Trump AffiliatesBlockchain data reveals that 80% of the TRUMP token supply is held by insiders, raising serious questions about decentralization, transparency, and intent.
Though the token's official website claims it is "not an investment vehicle", its price action is clearly tied to Trump's personal brand and social media activity — a fact that has drawn criticism from legal and ethics experts.
Legal Concerns: A Sitting President Promoting a Financial AssetAndrew Rossow, a digital media lawyer and CEO of AR Media, warned that Trump's behavior blurs the line between public service and personal profit:
"The promotion of a token so closely tied to a sitting president's name and wealth sets a dangerous precedent," said Rossow.
"Even if the token claims not to be for investment, its value is directly connected to Trump's public persona."
Rossow further explained that:
Trump's involvement in the promotion of the TRUMP token also threatens the credibility of federal regulatory bodies, namely the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
By openly endorsing a memecoin that is financially tied to him, Trump could be seen as bypassing standard securities protocols, all while serving as the chief executive of a nation with complex financial laws and regulations.
Cybersecurity Risks and Scams on the RiseAdding fuel to the fire, Cofense, a leading cybersecurity firm, reported that scammers posing as Binance representatives have exploited the TRUMP token hype.
This underscores the broader security risks associated with high-profile tokens being tied to political figures — especially when those figures actively promote them.
Final Thoughts: A New Era of Political Tokens?Trump's bold embrace of the TRUMP token — both as a brand and possibly a financial instrument — marks uncharted territory in American politics.
As the line between political influence and blockchain-based wealth grows thinner, the TRUMP token may serve as both a case study and a cautionary tale in the rapidly evolving intersection of crypto and government power.