2025-01-19 13:30:16 by NewsBTC

The latest meme coin launch by incoming US President Donald Trump seems to have upset the cryptocurrency industry with some speculators labeling it a scam. One of them, Coffeezilla, a YouTuber popular for exposing shady dealings, has alerted people in view of their concerns that insiders get 80% of this TRUMP coin supply, which means only a tiny fraction is available to the public, which could lead to a market manipulation scenario. According to Coffeezilla, this structure shows the project as more of a “grift” than a legitimate crypto venture. Insiders Control The Majority One major red flag is the concentration of 80% of Trump Coin’s total supply. This disproportionate allocation means that a select group of people, likely developers or influencers involved with the coin, could control the vast majority of the token’s value. For the general public, this spells trouble, as the market could be easily manipulated by those holding most of the tokens. Red Flags Concerning Transparency But given the fast-speed promotion, issues of transparency revolve around actual utility. The notion that a meme coin would carry significant weight in the market is unsettling for some analysts, especially when it lacks clear backing or innovation. TRUMP coin price action today. Source: CoinMarketCapWhile Trump Coin has been verified on the Phantom Wallet, critics argue that this doesn’t necessarily mean it’s a safe investment. My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to https://t.co/GX3ZxT5xyq — Have Fun! pic.twitter.com/flIKYyfBrC — Donald J. Trump (@realDonaldTrump) January 18, 2025 The project has been criticized for possibly taking advantage of its investors. Coffeezilla’s criticism focuses on the fact that such ventures usually take advantage of the excitement and hype of popular figures such as billionaire Donald Trump, making it easier to encourage people to invest in tokens of little value. Critics argue that this is more about making fast money for the insiders rather than creating long-term value for the crypto community. Total crypto market cap currently at $3.53 trillion. Chart: TradingViewPotential Impact On Crypto Reputation Attention given to Trump Coin may also mark a stain to the crypto sector. Projects like this, which focus on short-term gains, often deter new investors from taking the crypto market seriously. Furthermore, the whole launch may grab the attention of regulators, given that they’re keeping a close eye on meme coins more closely than ever. It seems that this new venture will set off controversy and debate in a digital currency landscape already inflamed by volatility and other related factors. Coffeezilla is well-known for his stinging exposés of purported cryptocurrency scams, such as Andrew Tate and Hawk Tuah Girl. Featured image from AP, chart from TradingView Christian Encila They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one. Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.