Trump's Crypto Initiatives Stir Industry and Ethical Concerns

President Trump launches meme coins and signs executive orders favoring cryptocurrency, raising questions about ethics and industry legitimacy.

President Trump introduced $TRUMP and $MELANIA meme coins, with the Trump Organization controlling 80% of $TRUMP tokens, sparking ethical concerns about conflicts of interest.
Trump signed an executive order promoting cryptocurrency adoption, including easing regulations, protecting developers, and prohibiting a Federal Reserve digital dollar.
The SEC withdrew a controversial accounting rule, SAB 121, which had hindered institutional crypto adoption, further boosting the industry.
Trump pardoned Ross Ulbricht, the founder of the Silk Road marketplace, a move celebrated by parts of the crypto community but criticized for its implications.
Critics argue the meme coins damage the credibility of the crypto sector, with concerns about their volatility, centralization, and potential misuse for political or personal gain.