In the recent public opinion storm, former President Donald Trump finally broke his silence and publicly distanced himself from the controversial TRUMP cryptocurrency token. Although the token has caused great controversy in the market, Trump insisted that he knew very little about it.
The TRUMP token was launched on January 17, 2025, just before Trump’s inauguration, and its market value soared to more than $13 billion in just a few days. The rapid rise of the token and its subsequent wild swings have sparked widespread public doubts about its legitimacy and Trump’s involvement.
When asked about the TRUMP token, Trump responded: “I don’t know much about it, except that I launched it.” He emphasized his hands-off attitude towards the management of the token and compared the billions of dollars in gains brought by the token to “peanuts” compared to the investments made by tech giants.
However, according to relevant reports, entities associated with Trump, including CIC Digital LLC and Fight Fight Fight LLC, hold about 80% of the token supply. Blockchain analysis companies revealed that the Trump family and its partners received nearly $100 million in transaction fees from the token transaction, while more than 800,000 investors suffered a total loss of about $2 billion.
The event has attracted great attention from lawmakers from both parties, many of whom have called for an investigation into potential conflicts of interest and ethical issues. Critics have pointed out that the timing of the token launch and the large holdings of Trump-related entities raise questions about the legitimacy of such financial activities as a public official.
As the value of the Trump token continues to fluctuate, the broader implications of politicians’ involvement in the cryptocurrency space have become a hot topic of public debate. The current situation has highlighted an important issue: clear guidelines and transparency are crucial when public officials intersect with the emerging fintech sector.
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