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Then Trump and his wife late last week launched their $TRUMP and $MELANIA meme coins — essentially digital tokens that are, officially, the president and first lady’s endorsed cryptocurrencies. But in reality, they trade purely on emotions and lack even a theoretical utility within or outside the crypto space. (In the frenzy over those launches, someone set up an unofficial “Barron” coin that turned out to be unrelated to the president and the first lady’s son Barron Trump. That coin, according to Crypto.com, looks like the sort of textbook rug pull that has made meme coins practically synonymous with scams.)
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