Forbes reports:
In a move that perfectly encapsulates the peculiarities of our times, Donald Trump launched a meme coin on January 17th, 2025, just a few days before his presidential inauguration. Within less than 24 hours it has reached a staggering market capitalization of $4.8 billion and a fully diluted valuation of $24.3 billion. “Trump Coin” has taken the cryptocurrency world by storm, potentially positioning itself to challenge Dogecoin’s supremacy in the meme coin ecosystem.
Consider the cautionary tales of Libra (later Diem), LBRY and the like, which spent millions attempting to launch a legitimate cryptocurrency only to be stymied by regulatory hurdles. Meanwhile, meme coins like Dogecoin, Shiba Inu, and now Trump Coin have flourished precisely because they make no pretense of being securities: they explicitly position themselves as purely speculative assets with no promise of profit sharing or underlying utility.
Newsweek reports:
Purchasers of a new meme coin, endorsed by Donald Trump’s social media account, must agree to terms and conditions that include a block on them bringing class action lawsuits.
The meme coins come with extensive terms and conditions, which states they are “NOT INTENDED TO BE, OR TO BE THE SUBJECT OF, AN INVESTMENT OPPORTUNITY, INVESTMENT CONTRACT, OR SECURITY OF ANY TYPE.”
The site links to terms and conditions that state the purchaser surrenders the right to join a class-action lawsuit against CIC Digital LLC, the Trump Organization affiliate which makes the $TRUMP coins, unless they give “written notice of your decision within thirty (30) days of the date that you first access the Website.”
The grifting is utterly endless.