Eric Trump commented on the ongoing discussions surrounding TRUMP Coin, initiated by his father, President Donald Trump. The emergence of a whale investor who made nearly $12 million profit shortly after the token’s launch has ignited further debate on the topic.
Eric Trump’s Insights on TRUMP Coin
Eric Trump, the son of President Trump, described the rapid rise of the TRUMP memecoin as “the world’s hottest digital meme.” After its release on Friday, TRUMP token quickly gained value, becoming one of the most talked-about topics in the cryptocurrency space. According to CoinGecko, its market cap exceeded $5 billion by Saturday afternoon, while trading volumes surged above $11 billion. The token price more than doubled to over $27 within just 24 hours, surpassing $60 today.
A significant transaction shortly after the launch caught the attention of blockchain analysts. A whale investor spent approximately $12 million to acquire 860,895 tokens and sold them for $27.67, realizing a profit of $11.8 million. This development highlighted the high volatility of the token during its early trading hours.
Concerns arose regarding the stability of the memecoin and the potential for market manipulation. Critics argued that speculative trading could harm small investors entering the market at inflated prices.
Anthony Scaramucci characterized the launch as “corruption at a bad level,” suggesting it left a negative impression on the broader cryptocurrency industry.
Concerns Over Financial Connections
The timing of the TRUMP memecoin’s launch raised ethical questions, occurring just days before Donald Trump’s presidential inauguration. Historically, presidential candidates have sought to distance themselves from business dealings to avoid potential conflicts of interest. The Trump administration’s direct connections to cryptocurrency are under close scrutiny from ethical watchdogs.
Jordan Libowitz from Citizens for Responsibility and Ethics in Washington commented, “This involves the president launching projects that promise regulations favorable to industries from which he intends to profit.” Trump faced criticism for promoting cryptocurrency-friendly policies during his campaign, which included reviewing crypto regulations and advocating for federal Bitcoin 
$106,335 holdings.
The swift rise of the TRUMP memecoin and associated profit incidents signal new dynamics and ethical discussions within the cryptocurrency market. Investors and observers continue to monitor how this situation will impact future market movements and regulatory approaches.
