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CNBC Hosts Press Donald Trump Jr. Over $TRUMP Meme Coin’s Influence Risks

Trump Jr. asserted that the family turned to cryptocurrency out of necessity after being de-banked by traditional lenders.

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Overview

  • The $TRUMP token has generated an estimated $320 million for President Trump and affiliated businesses.
  • Joe Kernen compared the meme coin to Hunter Biden’s art sales, saying both lacked transparency and could “grease the skids” for influence.
  • Andrew Ross Sorkin warned that foreign adversaries or other actors might exploit the digital token to funnel money to the administration.
  • Don Jr. said he was not involved in the meme coin and is focusing instead on stablecoin development and Bitcoin mining.
  • Ethics watchdogs have raised alarms that bad actors could use the meme coin to purchase influence.