U.S. President Donald Trump faced criticism for launching a meme-coin called “TRUMP” while admitting he knows little about cryptocurrency.The digital coin, unveiled on his social media ahead of his Monday inauguration, surged to $75 per coin on its first day before dropping to $39. Despite its rapid rise, the launch has drawn backlash from crypto industry experts, who view it as a publicity stunt.Danny Scott, CEO of CoinCorner, stated, “Trump’s admission of not knowing much about the coin reinforces the notion that he’s making a mockery of the industry.”Trump downplayed the coin’s success during a press event, saying, “I don’t know much about it other than it was very successful.” When informed that the coin had raised billions, he dismissed the figure as “peanuts” compared to the wealth of tech billionaires present.Critics argue the coin lacks utility, fueling concerns about its speculative nature.Source: BBC News Post navigation Trump’s Meme Coin Sparks Crypto Ethics Concerns