Copycats have rushed to cash in on the buzz around $TRUMP coin
If imitation is the sincerest form of flattery, then the team behind the president’s meme coin must be positively blushing. After analyzing the holdings of the official Trump coin wallet, the Financial Times reported that in the last three weeks alone, some 736 meme coins have been deposited into Trump’s digital wallet in “apparent attempts to suggest his endorsement.”
Crypto chancers have been rushing to associate their creations with President Trump ever since he and Melania launched their own coins ahead of his inauguration in January. After the president’s official meme coin ($TRUMP) surged to hit an implied market value of ~$70 billion at its peak, the number of “copycat” coins jumped — with more than 160 created since January 18.
According to the FT’s research, people have put 192 copycat coins named after Trump or members of his family into his wallet, with 30 referencing his son Barron alone. Interestingly, there are 35 meme coins with “Elon” or “Musk” in their names in there, too.
Last week, the Trump Media & Technology Group launched financial services and fintech brand Truth.Fi, and yesterday it emerged that it had also filed a trademark for a bitcoin “plus” ETF.
Crypto chancers have been rushing to associate their creations with President Trump ever since he and Melania launched their own coins ahead of his inauguration in January. After the president’s official meme coin ($TRUMP) surged to hit an implied market value of ~$70 billion at its peak, the number of “copycat” coins jumped — with more than 160 created since January 18.
According to the FT’s research, people have put 192 copycat coins named after Trump or members of his family into his wallet, with 30 referencing his son Barron alone. Interestingly, there are 35 meme coins with “Elon” or “Musk” in their names in there, too.
Last week, the Trump Media & Technology Group launched financial services and fintech brand Truth.Fi, and yesterday it emerged that it had also filed a trademark for a bitcoin “plus” ETF.
