EddieJayonCrypto
19 Mar 25
Renowned crypto billionaire Mike Novogratz disapproves of the controversial Trump memecoin, citing its negative impact on the crypto sector. Novogratz expressed his discontent at Bitcoin Investor Week, stating that the Trump Administration is beneficial for crypto, but lamenting the disruptive launc...
Renowned crypto billionaire Mike Novogratz criticized the impact of the controversial Trump memecoin, Official Trump (TRUMP), on the crypto sector. The coin is currently trading at $10.81, marking an 85% decrease from its peak value. Novogratz expressed his discontent at Bitcoin Investor Week, highlighting the disruptive launch of TRUMP just before Donald Trump's inauguration. Ethereum founder Vitalik Buterin also raised concerns about political coins being used as "vehicles for unlimited political bribery."
During Bitcoin Investor Week, Novogratz emphasized the positive influence of the Trump Administration on the crypto sector but lamented the disruptive impact of TRUMP's launch. He described the launch as a setback for the hard work put into the crypto industry over the last eight years. TRUMP, trading at $10.81, has experienced a significant decline from its all-time high of $73.43, set on January 19th, just two days after its launch. Novogratz is not the only prominent figure to question the wisdom of the Trump memecoin, as Ethereum founder Vitalik Buterin previously expressed similar reservations.
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