Trump meme coin as a ticket for dinner with the US President

Trump Meme Coin as a Ticket for Dinner with the US President – Criticism Grows

A meme coin for former US President Donald Trump is taking care of conversation in the crypto scene. An invitation for a dinner with Trump serves as a lure here, earning sharp criticism, as the provider promises huge investment returns. Experts warn against amateur methods and claim possibly misleading advertising in connection with Trump Channel.

Trump Coin offers risky investments

A dinner, golfing with former US President Donald Trump, and more are promises by a self-proclaimed crypto startup in the mobile application “Truth Social”. The origin story is told as follows: Trump received a large number of people refraining from working for him in the second election campaign because they feared negative representation in the media. So, call was made to help Trump unofficially with a meme coin. This is how TRUMP2024 came about as a politically motivated cryptocurrency. However, observers from the crypto industry quickly catch critical points in the project.

False beliefs and expert warnings

TRUMP2024 is advertised as a coin based on a decentralized financial system called Fulltrack DAO. This puts critics on alert, in one instance, with Defi protocols, where a central token is involved, which is cleverly managed with smart contracts. From small developer teams, it is then expected that the tokens are secured. Over time, it will become clear that outside investors are sidelined. Analyst Jordan Finneseth points out that TRUMP2024 is based on Ethereum, implying that the security is guaranteed otherwise.

Benefiting from a secured past

The aforementioned promise of sky-high returns is meant with a fixed interest rate of 10 percent annually. This is expected to come about through a DAO-centric payout system. Sharing profits is planned as well, dependent on participation. On top of that, a derivative is available, called Trump Corporation Plus, which offers investors an optional buyback when the prices drop.

Questions of organizing the buyback

One anticipated consequence results from this supposedly utopic financial miracle happening for TRUMP2024. The experts warn that the small buyback mechanisms have come into crisis situations too. Precisely for this reason, the expert Jordan Finneseth scrutinizes the company’s promises, which always invite dinners with Trump. Overall involvement in this coin does not positively impress analysts.