The return of President Donald Trump to the White House was considered by many as a boost for the cryptocurrency. During the campaign, he made several crypto-friendly promises and recently made splash When he launched his own “Even piece” shortly before the inauguration.
The Trump token has reached an assessment of almost $ 15 billion, although it has since fallen a little. But This continues to cause questionsAs, is the creation of this investment vehicle a conflict of interest for a senior official? And that devil is a piece of the same anyway?
Meghan McCarty Carino de Marketplace spoke with journalist Axios Brady Dale, author of the Axios cryptography newsletter, To obtain answers.
The following is a transcription published by their conversation.
Brady Dale: They are a speculative instrument which, I consider them somehow as a game. You know, there are these cryptocurrencies which capture an idea. So the most famous is mastiff – This funny dog ​​that everyone sees on the internet – and then, you know, these days, there is this blockchain called Solana which is very fast and easy to use and cheap to use. And this application was turned called Pump.fun which made the creation of new parts of memes very easy, like Super, SuperFast. And so thousands are created every day. And it’s just a game where people, you know, watch the new ones go out and wonder, which of these ideas is the funniest, which of these ideas is the most catchy? And they buy it, you know, making a bet that they can choose it properly. And then, you know, these pieces generally do not last very long. Sometimes they do it, but generally they don’t. And so you try to guess which ones will attract everyone’s attention. If it starts to go up, you try to sell at the right time because you somehow assume that it will not last forever. It is therefore this great game of massive game games that people play together because at the moment, in crypto, there is nothing really interesting to do apart from the purchase of Bitcoin, because Bitcoin had a happy new year, but it’s not so exciting. And so people are looking for, you know, people in this space like funny things with which to play with. And they have been pieces for several months.
Meghan McCarty Carino: Very well, and we discuss it now, of course, because of President Trump’s memes play, which he launched the weekend before the inauguration. How did it go?
Valley: Well, it really exploded. At first, a handful of people made a ton of money. A bunch of other people have done a little, a small sum of money. And, you know, others have lost money. It is down its high price. But one thing that I will say is that this automatic med would fall into the category of what we sometimes call the coins of memes of celebrities. And there have been a lot of celebrity cryptography products. They have the potential to have more power because, like celebrity – in this case, the most powerful man in the world – can, if they wish, do things around these pieces for, as, as, as, as, as, as, as, as, as, as, as, as Continue to interest them. He could start saying that, as there is a special section in my gatherings for, you know, Trumpcoin holders. Who knows if he will do this? He may never talk about it again. It may be a totally dead thing, but if he did, this kind of thing would continue to arouse interest.
McCarty Carino: Yeah. Tell me about these celebrity pieces because there have been a number and a certain number of scandals around them in the past year.
Valley: Yes, in general, when celebrities are involved in cryptocurrency, is it not well, you know? It is especially something that C-List or Has-Been celebrities have done, you know, honestly. And it is therefore difficult for them to arouse continuous interest, because people have no continuous interest in them. But obviously, you know, no one is able to arouse continuous interest like President Trump. So this piece could be different. I don’t decrease, but it might be different.
McCarty Carino: I mean, you pointed out that many people who bought the room even Trump were largely new to crypto.
Valley: Yes, because I think, you know, the application they used at launch, called Moonshot, said it aboard 400,000 people, and you know, most of them were probably people who had never touched a blockchain before. I think many people saw him and supposed that it was Trump and therefore probably the price would increase quickly and maybe they could make money. But I think some people thought it gave legitimacy to the sector. I mean, here is (then) the president, now the president, launching a cryptocurrency, while maybe it really meant something. Now what is strange is that it is difficult to see how it comes from Trump himself. You know, he was questioned on this subject by some journalists, and he said that he did not know much about it, which, you know, who knows if it is true or not? But what is true is that I think that when it was launched, many of us expected that he promoted it in one way or another during his inauguration, and he said nothing about it. He still doesn’t have it, you know. So there was something to whom (Trump’s son) Barron did to which he did not pay much attention, which is not clear.
McCarty Carino: So how did the cryptographic industry react to these official presidential coins?
Valley: Yeah, I would say that people who have existed for a long time, the more crypto-sobre people, you know, these people exist, are not very excited because they have the impression that the president launching a cryptocurrency undermines his Some sort of knowing, authority and credibility as a person to move pro-Crypto regulations. They were therefore not so excited about it, but that the most recent, for example, I spoke to one of the co-founders of Pump.fun, you know, the guys who brought the room of the whole year last year. They are extremely excited about this, do you know? As, obviously, it was great for them and their sector. It was great for the blockchain on which they rely, Solana, but I think that overall, Trumpcoin’s energy is sort of dead. We haven’t seen them more. So I think people are widely disappointed and do not feel good that it happens. But also, the president is so powerful at the moment, it will probably not really mean, in one way or another, for the industry, really, in the great scheme of things.
McCarty Carino: And what can investors do with these parts?
Valley: I bet they will go up or down? I mean, that’s all. This is the only function they have so far. You know, the Trump organization could present more functions for them, but right now, it’s purely speculative. Now this could interest your listeners. It is hardly the first piece of Mesmes Trump. There were a ton of pieces even Trump. It’s just that this is the first official play of the same Trump. And the reason why it is important is that there were a lot of memes Trump coins during the elections. There were also Biden pieces, there were Kamala pieces, there were, you know, RFK coins, like something else, you call it. But these are only things that people have done, some as more serious efforts than others. But what is interesting about these pieces is that they went up and down with, such as polls, news and elections. So if Trump looked to do better than Biden, the Trumpcoins would increase in value. When the president of the time, Kamala Harris), first became clear that she was going to be the Democratic candidate, his medagon really increased by prices, like a ton, you know. I went from, almost nothing, you know, something. You could have made a lot of money if you had had some. So they really follow the news. This is how people exchange them. So, I mean, it could be that people will buy in these things and in a way, you know, bets on movements that Trump does and what it could do at his price, the price of his play and probably, If we saw in the elections are true, this medal will follow great news in its presidency.
More about this
On the crypto regulation front, Trump has already created a group focused, among other things, Creation of a cryptocurrency national reservewhich could come from the crypto seized by the federal government.
Meanwhile, Trump Media – The parent company of Truth Social, also the majority owned by the President – recently announced that it planned to offer its own financial services, in particular investments like Funds negotiated in exchange and, yes, cryptocurrencies.
Back to this question of what you can do with a piece of meme Trump: several e -commerce sites have announced that they Accept it as a form of payment. So you can now buy Trump watches, Trump sneakers and Trump perfumes with Trumpcoin.