Trump Family Learned About TrumpCoin, Legal Action Will Be Taken

The Trump family learned about TrumpCoin and warned their followers about the meme coin labeling it as a fraud and also saying that legal action will be taken so let’s read further in our latest altcoin news today.

The meme coin called TrumpCoin caught the attention of the Trump Family and there were not happy. Donald Trump’s son Eric Trump tweeted that the coin has nothing to do with the family and it is not authorized so legal action will be taken. On the website, the TrumpCoin fAQ says it launched in February 2016 to honor the former President Donald Trump and also calls itself the number one Patriot cryptocurrency. The current market cap of TrumpCoin is around $1.5 million with a circulating supply and the current market capitalization is around $1.5 million with a supply of little more than 6.6 million coins. The coin has no trading volume but it did spike by 350% today after the tweet of Eric Trump. In a response to the younger brother’s tweet, TrumpCoin posted a FAQ screenshot:

“Trumpcoin.com is not owned, operated, endorsed by, or otherwise affiliated with Donald J. Trump, The Trump Organization, Donald J. Trump for President Inc, or any other organization owned and/or operated by Donald J. Trump or any of his affiliates.”

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, 2022

TrumpCoin is not the only meme coin that targeted Trump supporters. Earlier this month, NASCAR rejected the sponsorship of the LGBcoin which stands for Let’s Go Brandon which is a phrase that has become an internet meme and used as a placeholder for “F*ck Joe Biden.” The meme coin is a coin that has no inherent value with no utility. As the name implies are cryptocurrencies that are not exclusively themed around the internet memes. Dogecoin is one of the earliest meme coins and for years it had no inherent value. Still, after Elon Musk became the biggest supporter, DOGE is not among the top 10 cryptocurrencies with a market cap of $18.2 billion.

As recently reported, The ex-US President Donald Trump says crypto is dangerous and made that known once again that the only currency he wants is the US dollar. Trump was a critic of crypto for quite some time now and the outlook is not changing despite his wife entering into the NFT industry.  The former FLOTUS Melania Trump warmed up to the idea of NFTs and even launched a project while her husband believes that crypto is dangerous.