đ¨ Trumpâs Memecoin Crash - Upcoming LAWSUITS?!
Right before Donald Trumpâs inauguration, the world of crypto got blindsided by two big âofficialâ memecoins: $TRUMP and $MELANIA. The tokens soared, tanked, and whipped up new buzz around politics-meets-crypto. Now, a wave of lawsuits seems inevitable But can anything really stick?
By slapping his name on a memecoin, the new president essentially tied U.S. politics to crypto hype. Observers say Democratsâand disgruntled investorsâare chomping at the bit to file lawsuits. The big question: Is it even illegal to launch a memecoin? Traditionally, these tokens arenât considered securities because theyâre basically worthless code that people trade for funâor FOMO. So, the SEC might not have a slam dunk. Plus, the $TRUMP websiteâs fine print stresses the coin is not a security or an investment product. One angle might be conflict-of-interest claims, since the President is actively shaping crypto policy while potentially profiting from it. Another comes from frustrated traders who bought high and sold lowâsome folks lost millions overnight. Yet, legal experts note Trumpâs memecoin disclaimers and arbitration clauses could derail many complaints before they even reach a judge.
Crypto lawyer Preston Byrne says itâs almost certain somebody will file suitâand soon. A few investors might argue they werenât bound by disclaimers or that they never agreed to arbitration. Whether these arguments stick is another story. Attorney Josh Lawler calls $TRUMP âcarefully craftedâ to tiptoe around the law. Itâs basically the wild west, but with presidential branding. In short, lawsuits are comingâbut the memecoins might skate by in the legal gray zone.
Did you buy $TRUMP? If yes, have you made some $$$ or lost money? Let me know in the comments! #Trump #DonaldTrump #Melania #Trump2024 #Memecoins