Melania Coin and Trump Coin, cryptocurrencies tied to the Trump brand, have suffered significant losses, with Melania Coin plunging 70% from its peak and Trump Coin dropping over 40%. The decline is attributed to speculative hype,

The driving force behind meme coins and why the launch of Donald and Melania Trump meme tokens sparked an outcry.

Crypto analysts report 6,800 fraudulent tokens and 91 fake dApps since $TRUMP made its $72 billion debut, as reported by Crypto News. The coin, which President Trump admitted himself that he “didn’t know much about,” was launched to great success, achieving a market cap of $72 billion 48 hours before its launch.

Industry players worry the success of the president’s meme coin will undermine the credibility they have worked hard to cultivate.

The token started to bounce back after SEC acting Chair Mark Uyeda unveiled a new team tasked with “developing a comprehensive and clear regulatory framework for crypto assets.”

President Donald Trump’s goodwill in the cryptocurrency industry has taken a hit after he and his wife launched meme coins — a move critics say looks like an unseemly cash grab that undermines an effort to legitimize digital assets.

The new president's $Trump coin won't surprise those who understand him but will likely vex some powerful people, SkyBridge's Anthony Scaramucci said.

Trump fuels meme coin deluge as Coinbase CEO says there’s 1 million new cryptocurrencies created every week - Marketing is struggling to cope with influx of new cryptocurrencies

President-elect Donald Trump has launched a new cryptocurrency token that's soaring in value and potentially boosting his net worth.