The launch of meme coins tied to Donald Trump, including his $TRUMP coin, has resulted in significant financial losses. The $TRUMP coin dropped 80% in value since its January 17 debut, falling from a peak of $73.43 to just $11.27, erasing over $12 billion in value. Similarly, Melania Trump’s $MELANIA coin lost much of its worth, with a $10,000 investment now worth only $652. Recent drops in Bitcoin and the broader crypto market have added to concerns. California Rep. Sam Liccardo has proposed the MEME Act to prevent White House officials and their families from endorsing digital assets, citing potential corruption and conflicts of interest. As interest in Trump-related meme coins continues to decline, these concerns may become more pressing.
