TRUMP.FUN – Former President Donald Trump’s speech only a couple weeks in the past on the Bitcoin Nashville convention now looks like a distant reminiscence. Not solely has he been overtaken by Vice President Kamala Harris because the frontrunner on this 12 months’s U.S. presidential election – at the very least within the eyes of punters on the prediction-betting web site Polymarket – however his identify and relations at the moment are recurrently getting dragged into conversations about memecoins. It began final week when one in all his sons, Eric Trump, tweeted that he has “fallen in love with Crypto / DeFi. Keep tuned for a giant announcement,” as associated by CoinDesk’s Krisztian Sandor. Then on Thursday, a newly launched cryptocurrency on Solana (SOL) known as Restore the Republic, or RTR, rumored to be the official token of Donald Trump, started buying and selling, taking pictures to a $155 million market capitalization inside hours after the launch. Eric Trump then warned customers of “faux tokens” and mentioned that the “solely official Trump undertaking has not been introduced.” RTR tumbled 95%. His brother, Donald Trump Jr., tweeted that whereas he loves “how a lot the crypto group is embracing Trump,” merchants ought to “beware of pretend tokens claiming to be a part of the Trump undertaking.” Then there was the previous president’s Areas session on Monday with X proprietor Elon Musk, throughout which the pair notably did not even point out Bitcoin or crypto. In response to The Block, the omission despatched costs tumbling for the tokens with names like MAGA Hat and Doland Tremp. The crypto information web site Decrypt reported that some 10,000 tokens have been launched in the course of the Areas on the meme coin launchpad Pump.enjoyable, the place the $2 issuance price was utterly eradicated earlier this week – making it that a lot simpler and cheaper to launch a token. Primarily based on one account posted on X, after Trump uttered the phrase “tough individuals” about 5 instances in a row, there have been at the very least 10 distinct memecoins launched with the identify “ROUGH PEOPLE.” Some memecoin merchants complained that utilizing Pump.enjoyable was “not enjoyable anymore” as a result of there have been “10,000 scams.” However for at the very least one commenter, watching the motion felt nearly like a information feed: “I don’t even want to observe the area when there’s pump enjoyable.”
