Fun

Trump Coin Accused Of 100% Grift, Says YouTuber Coffeezilla

News Feed - 2025-01-19 10:01:16

Este artículo también está disponible en español.


The latest meme coin launch by incoming US President Donald Trump seems to have upset the cryptocurrency industry with some speculators labeling it a scam.


One of them, Coffeezilla, a YouTuber popular for exposing shady dealings, has alerted people in view of their concerns that insiders get 80% of this TRUMP coin supply, which means only a tiny fraction is available to the public, which could lead to a market manipulation scenario. Related Reading Bitcoin Reserve In The US: 65% Chance It Happens In 2025 1 day ago


According to Coffeezilla, this structure shows the project as more of a “grift” than a legitimate crypto venture. Insiders Control The Majority


One major red flag is the concentration of 80% of Trump Coin’s total supply. This disproportionate allocation means that a select group of people, likely developers or influencers involved with the coin, could control the vast majority of the token’s value. For the general public, this spells trouble, as the market could be easily manipulated by those holding most of the tokens. Red Flags Concerning Transparency


But given the fast-speed promotion, issues of transparency revolve around actual utility. The notion that a meme coin would carry significant weight in the market is unsettling for some analysts, especially when it lacks clear backing or innovation. TRUMP coin price action today. Source: CoinMarketCap


While Trump Coin has been verified on the Phantom Wallet, critics argue that this doesn’t necessarily mean it’s a safe investment. My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to https://t.co/GX3ZxT5xyq — Have Fun! pic.twitter.com/flIKYyfBrC


— Donald J. Trump (@realDonaldTrump) January 18, 2025



The project has been criticized for possibly taking advantage of its investors. Coffeezilla’s criticism focuses on the fact that such ventures usually take advantage of the excitement and hype of popular figures such as billionaire Donald Trump, making it easier to encourage people to invest in tokens of little value. Critics argue that this is more about making fast money for the insiders rather than creating long-term value for the crypto community. Total crypto market cap currently at $3.53 trillion. Chart: TradingView Potential Impact On Crypto Reputation


Attention given to Trump Coin may also mark a stain to the crypto sector. Projects like this, which focus on short-term gains, often deter new investors from taking the crypto market seriously. Related Reading Dogecoin Bulls Eye $3 As Whales Scoop 200 Million DOGE In The Last 2 Days 2 days ago


Furthermore, the whole launch may grab the attention of regulators, given that they’re keeping a close eye on meme coins more closely than ever. It seems that this new venture will set off controversy and debate in a digital currency landscape already inflamed by volatility and other related factors.


Coffeezilla is well-known for his stinging exposés of purported cryptocurrency scams, such as Andrew Tate and Hawk Tuah Girl.


Featured image from AP, chart from TradingView

News Feed

Gold Price Flashes Oversold Signal Following Massive Correction
Gold"s yearlong rally took a pause this week, as risk appetite lowered demand for haven assets. | Image: ShutterstockGold’s yearlong surge took a pause this week, as investor
Chiliz $CHZ Growth Continues With Trio of New Listings
Chiliz $CHZ Growth Continues With Trio of New Listings press release Chiliz$CHZ– the digital currency for sports and entertainment – has announced listings on the Bitcoin.com Exchange, HitB
Tools of Humanity delays unlock of 80% of WDL tokens
Ana Paula Pereira8 hours agoTools of Humanity delays unlock of 80% of WDL tokensOriginally set to unlock over three years, the tokens will now become accessible for early contributors and investors over five years, begin
Bitcoin slips below $65K as Fed holds rates, hints at September cut
Ciaran Lyons6 hours agoBitcoin slips below $65K as Fed holds rates, hints at September cutBitcoin dropped below a key price point after the US Federal Reserve held rates steady, and tensions flared up in the Middle East.
Pakistanis Lose Millions to Crypto Scam, Pakistan Issues Notice to Binance
Pakistanis Lose Millions to Crypto Scam, Pakistan Issues Notice to Binance Investors from Pakistan have become victims of a massive fraud using cryptocurrency. The country’s
Inflation Hit Ethiopia Demonetizes Currency To Curb Cash Hoarding
Inflation Hit Ethiopia Demonetizes Currency To Curb Cash HoardingThe Ethiopian government has unveiled a new set of banknotes that are expected to help authorities in curbing cash h
Bitcoin price tops $68K, but a few concerning headwinds remain
Marcel Pechman5 hours agoBitcoin price tops $68K, but a few concerning headwinds remainBitcoin price shows strength as investors expect the Fed to resume printing, but a handful of global macroeconomic headwinds are stil
Martin Young2 hours agoFTX, Genesis reach in-principle agreement to settle bankruptcy caseFTX and Genesis lawyers have sent a letter to the bankruptcy judge regarding a settlement agreement.946 Total views6 Total sharesL
Ternoa to List on AscendEX
Ternoa to List on AscendEX press release PRESS RELEASE. AscendEX, a global cryptocurrency financial platform with a comprehensive product suite, is excited to ann
BTC, ETH, ADA, BNB Ranked the Most Watched Crypto Assets in 2022
BTC, ETH, ADA, BNB Ranked the Most Watched Crypto Assets in 2022 Today’s top ten crypto assets make up a large portion of the crypto economy’s current $797.95 billion
Crypto-Friendly Bank Backed by Warren Buffett’s Berkshire Hathaway Plans $2 Billion IPO on Nasdaq
Crypto-Friendly Bank Backed by Warren Buffett"s Berkshire Hathaway Plans $2 Billion IPO on Nasdaq Nubank, a Brazilian digital bank backed by Warren Buffett&rsquo
Daily Timeframe Says XRP Price Is On The Verge Of Breakout
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu