The Trump family has issued a warning that TrumpCoin is a rip-off. Trump‘s son, Eric Trump, has threatened to sue over the coin joke.
TrumpCoin is a rip-off
The Trump family has issued a warning. TrumpCoin is a rip-off. Trump’s son, Eric Trump, has threatened to sue over the coin joke.
Fraud Alert: It has come to our attention that someone is promoting a crypto currency called “TrumpCoin” (Symbol “TRUMP.”) This has NOTHING to do with our family, we do not authorize the use and we are in no way affiliated with this group. Legal action will be taken.
— Eric Trump (@EricTrump) January 24, 2022TrumpCoin is a meme coin that was created in 2016 to support then-US President Donald Trump. Trump’s second son, Eric Trump, said the meme coin was a hoax and that legal action will be taken against it in a post on his personal page on Jan. 25.
“Our family recently learned of a cryptocurrency known as ‘TrumpCoin,’ which is based on the TRUMP sign.
We have nothing to do with the goods. This organization has never authorized or affiliated with us. “We will be pursuing legal action soon,” the Trump Organization’s vice president stated on Twitter.
The meme coin account then replied to Eric Trump, stating that the coin is not affiliated with the previous US President.
TrumpCoin is not Linked with Donald J. Trump
The meme coin “is not owned, endorsed, or linked with Donald J. Trump, the Trump Organization, and their affiliates and entities are overseen by former President Trump,” according to the website.
TrumpCoin’s development representative further stressed in an interview with Cnet that the coin has been in operation for 5 years and has “never had a partnership with the Trump family since its creation.”
A TrumpCoin representative stated, “This misunderstanding has put us in an unpleasant position.”
The meme coin has a total market cap of about 1.5 million dollars, according to CoinMarketCap, and a supply of 6.6 million coins.
There hasn’t been much activity in this meme coin recently. According to Decrypt, the price of the meme coin has risen 350 percent today as a result of Eric Trump’s post.
Former US President Barack Obama once referred to Bitcoin as a “scam against Bitcoin.” ‘The United States dollar,’ he said, and he was a vocal opponent of virtual currencies.
Melania Trump, on the other hand, is a Bitcoin and NFT enthusiast, unlike her husband. Melania’s Vision, her own NFT product, was released in December 2021.
