Cathie Wood Questions TRUMP Meme Coin’s Utility Amid Rising Popularity
Cathie Wood, CEO of ARK Invest, has voiced skepticism about the TRUMP meme coin, categorizing it as part of the “meme coin moment” akin to the 2017 ICO craze. Speaking with Bloomberg TV, Wood emphasized that her firm avoids meme coins, focusing instead on cryptocurrencies with strong utility like Bitcoin, Ethereum, and Solana.
Wood highlighted the uncertain utility of
$TRUMP , rumored to offer perks like meetings with the former president, though such claims remain unverified. Despite this, TRUMP has surged in popularity, achieving a $7.42 billion market cap and ranking as the 29th largest cryptocurrency.
The coin’s rapid rise has even spurred interest from institutional players, with Rex Shares filing for meme coin ETFs. However, scrutiny around Trump’s financial ties to crypto, including his DeFi project World Liberty Financial, continues to grow.
$SOL $XRP Material prepared by the exchange: coytx.com
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