President Donald Trump and First Lady Melania Trump launched meme coins, pushing their combined market cap to nearly $10 billion. Meme coin issuers benefit by earning proceeds from initial sales and through ownership stakes that gain value as coin prices rise. They can further profit by selling additional coins as demand increases. Critics argue that the tokens blur the line between Trump's political and business interests, potentially inviting foreign influence through token purchases. Trump's meme-coin profits are unrealized, and selling off remaining tokens would likely crash their value and diminish his holdings. Skeptics view the meme-coin craze as emblematic of a speculative market driven by get-rich-quick schemes, with Trump’s coin testing its durability.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02President Donald Trump and First Lady Melania Trump launched meme coins,
00:06pushing their combined market cap to nearly $10 billion.
00:10Meme coin issuers benefit by earning proceeds from initial sales and through ownership stakes
00:15that gain value as the coin prices rise.
00:18They can further profit by selling additional coins as demands increase.
00:22Critics argue that the tokens blur the lines between Trump's political and business interests,
00:28potentially inviting foreign influence through token purchases.
00:31Trump's meme coin profits are unrealized and selling off remaining tokens would
00:37likely crash their value and diminish his holdings.
00:39Skeptics view the meme coin craze as emblematic of a speculative market driven by get-rich-quick
00:45schemes.
00:46This with Trump's coin testing its durability.
00:49For all things money, visit Benzinga.com slash GSTV.