Eric Trump took to Twitter to warn his followers about a meme coin called TrumpCoin, labeling it a “fraud.”
A meme coin called TrumpCoin has caught the attention of members of the Trump family—and they are not amused. Donald Trump’s son, Eric Trump, today tweeted that TrumpCoin has nothing to do with the Trump family, is not authorized, and “legal action” will be taken.
On its website, the TrumpCoin FAQ says it launched on February 20, 2016, to honor former President Donald Trump. It also calls itself the “#1 Patriot Cryptocurrency” on its Twitter account.
The current market capitalization of TrumpCoin is around $1.5 million with a circulating supply of a little more than 6.6 million coins, according to data from CoinMarketCap.
The coin currently has almost no trading volume, though it did spike by more than 350% today, likely as a result of Eric Trump’s tweet.
In response to the younger Trump brother’s Tweet, TrumpCoin posted a screenshot of its FAQ:
“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.”
TrumpCoin isn’t the only meme coin targeting right-wing Trump supporters. Earlier this month, NASCAR rejected the sponsorship of a meme coin called “LGBcoin.” The acronym “LGB” stands for “Let’s Go Brandon,” a phrase that has itself become an internet meme and used as a placeholder for “F*ck Joe Biden.”
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