On the day before he officially became the 47th President of the United States, Trump set off new waves in the field of Crypto assets. He launched a controversial memecoin and named it after himself.

The memecoin known as TRUMP, which was launched on January 17, sparked a lot of discussion and is currently facing a counterattack from critics who believe that this is a pair of incoming It was a problematic venture for the president.

While everyone was expecting Trump to take over the White House, the US president-elect launched his own memecoin on the Solana blockchain , which surprised the Crypto asset community.

The move sparked a storm of criticism, questioning whether it was ethical for the US president to launch his own memecoin.

Popular You Tuber Stephen Findeisen believes that considering Trump will appoint a new chairman of the U.S. Securities and Exchange Commission (SEC), just days before the inauguration memecoin is anachronistic. Part of the remarks are as follows:

"It is inappropriate to release memecoin two days before Trump takes office."

"New SEC/DOJ guarantees no prosecutions"

"80% pass during president's term. Certificates belong to insiders”

"Most of the people losing money will be MAGA, they are not native to Crypto assets"

Other critics questioned Trump's new plan. Taking risks, they believe that this blurs the boundaries with enterprises to some extent.

Even Trump’s former aide Anthony Scaramucci slammed the new memecoin , calling it a form of “corruption” and arguing that the Trump memecoin could have an adverse impact on the broader digital asset market.

Adav Noti, executive director of the Campaign Legal Center, accused Trump of using the presidency for personal gain, saying "Trump memecoin" could be considered an act of profiteering.

It is reported that approximately 80% of the tokens will be allocated to individuals within the incoming president's circle.

Noti pointed out: "This is simply cashing out the presidency, which is creating a financial instrument that allows people to transfer money to the president's family members who are related to the presidency. This is simply unprecedented. ”

Some people in the Crypto asset industry are also not optimistic about this new memecoin, thinking it is a "dirty" method.

< p style="text-align: left;">Former Coinbase executive Nick Tomaino said in a post: "Trump owns 80% of the shares and launched it just hours before the inauguration, which is predatory , many people may be harmed. ”

A new Trump-based token reached a market capitalization of $400 million in just 15 minutes, analysts said, adding that the memecoin will also Solana’s native token SOL pushes to an all-time high of $267

And the new Trump memecoin site is almost as deployed as his previous NFT site. Exactly the same.

Same cloudflare settings, same Heroku deployment, same SSL certificate issuer. Very similar to the previous HTML structure.

Market observers said, The memecoin’s value almost hit $35 before settling around $29, adding that some Crypto asset traders recorded gains.

It was reported that one investor made between $50,000 and $1.1 million in a few hours.

However, considering that 1 billion TRUMP Only 20% of the tokens are in circulation, and it is too early to judge the future trend of the tokens. The remaining 80% will be issued in the next three years.