Donald Trump’s $TRUMP meme coin sparks controversy over ethical concerns

Trump launched the $TRUMP meme coin just two days before taking office, raising ethical concerns and investor risks.

YouTuber Stephen Findeisen, better known as "Coffeezilla," posted a video on Saturday in response to President-elect Donald Trump’s recent launch of the $TRUMP meme coin.

Trump introduced the Solana-based cryptocurrency on Friday via his official X (formerly Twitter) page, confirming that it was a legitimate announcement and not the result of a hack.

wtf is happening. https://t.co/REBfjJJME1

— Coffeezilla (@coffeebreak_YT) January 18, 2025

Findeisen, who has earned a reputation for investigating cryptocurrency projects, including the controversial $HAWK by Hailey "Hawk Tuah girl" Welch, was shocked by the announcement. He described it as "historic in its stupidity" and questioned the timing, suggesting that launching a meme coin days before his inauguration raised serious ethical concerns. "Did this guy want to do the presidency, or was this the meme coin hype plan?" Findeisen remarked.

In a follow-up video on his secondary channel, Voidzilla, Coffeezilla exposed key details about the $TRUMP coin, including that 80% of it is controlled by Trump's team. He cautioned that while some crypto enthusiasts might profit, most regular investors, especially those unfamiliar with Solana or cryptocurrency in general, could lose money. "Roasted dude. Game over. Obliterated," he said, warning newcomers to stay cautious.

Findeisen also expressed doubts about the legality of the coin, raising concerns over whether it should even be allowed. He pointed out the potential conflict of interest, noting that insiders are in control of the coin's sale, leaving everyday investors at risk.

> dropping TRUMP memecoin 2 days before becoming president is nasty work
> new SEC/DOJ guarantees no prosecution
> 80% of tokens vest to insiders DURING the presidency
> most ppl losing money will be MAGA who aren't crypto native
> *should* be a crime but crime is legal now ig?

— Coffeezilla (@coffeebreak_YT) January 18, 2025

Despite these criticisms, $TRUMP has already gained significant traction, becoming one of the top meme coins with a market cap of $14.5 billion and over $1 billion in trading volume. According to Binance, one investor turned $231 into $2.39 million, marking a staggering return of over 550,000%.