US President Trump endorsed his official $TRUMP meme coin on Truth Social, causing a spike in its price before a quick retreat. Launched in January, the Solana-based coin faced criticism for potential unregulated influence and investor risks. Despite Trump's lack of knowledge about the coin, his endorsement stirred controversy about leveraging public office for personal financial gain. The introduction of the MEME Act aims to prevent officials from profiting through meme coins.
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