Why President Trump’s Meme Coin Is Raising Alarm Bells
The launch of President Trump's meme token was met with mixed reactions among the crypto community. On one hand, Trump allied with crypto backers on the campaign trail, promising to cut back on legal challenges brought against crypto businesses and promote innovation in the United States. His launch of a meme coin was a sign he still cared about crypto. On the other hand, the crypto community just recovered from the implosion of 2022, including the collapse of the centralized exchange FTX. Since then, there have been major developments in mainstream adoption, like the launch of spot bitcoin ETFs in U.S. markets. Trump's new cryptocurrency sparked fears it could stall the recovery of crypto’s image, and concerns about how the president might get richer as investors poured into Trump’s coin. Chapters: 0:00- 0:52 Introduction 0:53 - 2:39 Chapter 1 Meme coin history 2:40 - 3:17 Chapter 2 Crypto's downfall 3:18 - 5:04 Chapter 3 Rebuilding crypto's image 5:05 - 8:20 Chapter 4 Reactions to Trump's token Hosted by: MacKenzie Sigalos Produced, Shot, and Edited by: Kaan Oguz Senior Managing Producer: Jordan Smith Animation: Jason Reginato Additional Footage: Getty Images » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to up your AI skills and be more productive? Take CNBC’s new online course on “How to use AI to be More Successful at Work" to leverage AI at work, and in life. Sign up now and use coupon code EARLYBIRD for an introductory discount of 30% off $67 (+ taxes and fees) through February 11, 2025: https://cnb.cx/40jZlNX Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC on Threads: https://cnb.cx/threads Follow CNBC News on X: https://cnb.cx/FollowCNBC Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC #CNBC #Crypto #Trump Why President Trump’s Meme Coin Is Raising Alarm Bells
