Politics has taken a wild turn after President Donald Trump launched his own memecoin TRUMP, followed by Melania Trump’s MELANIA. This move has, in many ways, compelled politicians who viewed cryptocurrencies as nothing but a waste of resources to accept their importance in Trump’s presidency.
The recent price dip has made many investors lose their money. Is that adequate reason to sue TRUMP memecoin? Looking at the nature of memecoins, they are difficult to be prosecuted and do not expressly fall under the category of securities as per the Howey test. However, litigation is bound to happen.
Will President Trump remain unscathed, or will he have to pay a heavy price?
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