The news of this dramatic rise quickly spread, generating excitement among traders and meme coin aficionados. However, it is the substantial 80% of the tokens held by CIC Digital LLC and Fight Fight Fight LLC—affiliates of The Trump Organization—that has sparked some controversy regarding the coin’s legitimacy.Despite the excitement surrounding the token, there were some unusual moments that raised questions about its authenticity. The first signs of trouble emerged when posts promoting the coin appeared on Trump’s social media platforms, Truth Social and X (formerly Twitter). This follows Trump’s campaign pledge to be a “crypto president” and his promise to make cryptocurrency policies more business-friendly. The $TRUMP coin, however, stands out due to its connection to cryptocurrency, an area Trump has signalled interest in during his presidential campaign.During his campaign for re-election, Trump made headlines by promising to champion cryptocurrency.

Source: The Times January 18, 2025 17:59 UTC