Crypto industry insiders critical of TRUMP memecoin launch

Some cryptocurrency industry insiders have criticized President Donald Trump’s announcement of the launch of the TRUMP memecoin. That’s according to a report by CoinDesk. The publication explained that memecoins are a legitimate use case of blockchain technology. However, at the same time, they can be perceived as a quick way for many developers to get rich. CoinDesk added that the launch of the TRUMP memecoin could also lead to conflicts of interest among memecoin stakeholders in the future. Anthony Scaramucci, founder of the U.S. hedge fund SkyBridge Capital, pointed out that the biggest problem that has arisen since President Donald Trump launched the memecoin is that effectively anyone in the world can deposit money into the U.S. president’s account with just a few clicks.