Representative Maxine Waters labeled the official TRUMP token as the ‘worst of crypto’, expressing concerns about investor protections and transparency. She warned that investors might lose out if insiders sell, emphasizing that the coin’s terms prevent legal action against fraud.
The TRUMP coin’s price plummeted more than 40% after its launch. Waters cautioned that Trump’s actions could negatively impact the crypto industry’s reputation, especially given the lack of attention to cryptocurrencies in his inauguration discussions.