Odaily Planet Daily News In the three weeks since Trump launched Meme Coin, more than 700 unauthorized cryptocurrencies have been sent to his digital wallet.
Within 30 minutes of Trump's first announcement of the token issuance, the number of tokens began to surge, and the creator used the Solana blockchain function to allow unsolicited deposits to other wallets. Hundreds of tokens use names related to Trump or his family, including "OFFICIAL TRUMP" and "OFFICIAL MELANIA", despite no actual connection to Trump.
The analysis found that 167 tokens are themed around the Trump family, 67 of which use the word "official" in their names. Unauthorized tokens also target Trump's children: 30 mention Barron, 26 mention Ivanka, and 10 mention Eric. Another 35 tokens attempt to link to Tesla CEO Musk, Trump's ally.
Eswar Prasad, a senior fellow at the Brookings Institution, said Trump's involvement in meme coins "opens the floodgates for deception and rampant speculation," exposing ordinary investors to huge risks. (FT)