XRP Pro-Lawyer John Deaton Justifies Listing TRUMP Memecoin on Exchanges
Cryptocurrency lawyer John Deaton justifies listing TRUMP token on major crypto exchanges.
Coinbase and Kraken have listed TRUMP tokens.
John Deaton suggests Donald Trump use the profits from the TRUMP token for social causes.
The TRUMP memecoin has been receiving a lot of attention not only from the crypto community but also across the mainstream media since its launch. While wise traders are taking advantage of this opportunity to make profits, industry leaders and officials are criticizing the launch of memecoin by the US President.
In regards to the same, the famous crypto lawyer John Deaton commented on his views on his official X account. Although many important voices in the industry criticized Coinbase, Kraken and their CEOs, John Deaton supported them. He also stated that he would also advise exchanges to list the token if he was the lawyer for those companies. John Deaton says,
“How can the SEC, in good faith, continue to prosecute Coinbase and Kraken for selling crypto tokens when they are selling a crypto token issued by the President of the United States?”
John Deaton Proposes Using Trump's Memcoin Profits for Disaster Victims
Deaton said he’s not a fan of Memcoin but if the profits are used for social causes like hurricane and wildfire victims, or other practical use cases, he might be a fan. This isn’t the first time Deaton has made this suggestion to US President Donald Trump.
After the launch of Trump's Memcoin, John Deaton posted on X suggesting that Donald Trump and his advisors should declare all profits from Trump's Memcoin to help American citizens and victims of natural disasters such as wildfires and hurricanes.
He also emphasized the fact that Trump’s net worth has more than doubled through Trump’s Memcoin. But these profits are just on paper and he cannot realize these profits. Therefore, John Dayton suggested donating the profits to the victims. This not only gives Donald Trump the opportunity to show his charitable nature but also enhances his legacy as an American president.
However, it remains to be seen what happens next in the Trump-Melania Memcoin saga. So far, it has opened the door to a lot of criticism and speculation in the industry, and has even raised the possibility of scams, frauds, and pump-and-dump schemes.
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