Another cryptocurrency linked to former President Trump has emerged, known as The Trump Token, under the ticker “GREAT.” Set to launch on the Solana blockchain, it promises to donate half of its presale funds to political groups supporting Trump’s agenda.
However, upon closer examination, concerns have arisen. A beta version of The Trump Token’s website lists a 12-person team, including members like Yar (chief architect) and Kira (operations and compliance).
Yet, investigations reveal that these team members’ images are AI-generated, calling into question the project’s transparency.
Suspected AI generated Trump Token team members
When questioned about this, the project’s media ambassador, James Grundvig, admitted that these avatars were used to maintain anonymity in the “politically hostile” U.S. environment.
Yet, this justification appears flimsy, especially when anonymity could have been maintained without resorting to creating fake identities, which risks misleading potential investors.
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The Trump Token’s ambitions are bold, but its comparisons to the likes of Tether and Bitcoin seem overstated.
These cryptocurrencies took years to gain trust, whereas The Trump Token, a newly conceived project, is already struggling to establish legitimacy.
Its whitepaper, a confusing mix of blockchain jargon, promises decentralised governance and DeFi integration. But whether these claims hold any substance remains to be seen.
Distribution of Trump Tokens. Source: White Paper
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The Trump Token is also promoting its potential to make political contributions through SuperPACs, with up to $50 million theoretically allocated to supporting Trump’s campaign. But with the U.S. election only a month away, there are doubts about whether these funds will be disbursed in time to have any meaningful impact.
Grundvig has dismissed concerns about timing, emphasising that the project is moving forward regardless. Additionally, the project offers perks like NFTs for token holders should Trump win the election. But with the race still highly uncertain, it’s worth questioning whether these incentives hold real value.
Despite its claims, The Trump Token faces significant challenges. The use of AI-generated staff, the questionable timing, and its unrealistic comparisons to established projects make it difficult for investors to trust this endeavour. With so many uncertainties, this is a project that seems more likely to fade than to flourish.
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