Cathie Wood Claims Trump’s Meme Coin Signals Positive Industry Shift

Cathie Wood, CEO of Ark Investment, expressed support for President Donald Trump’s meme coin during a Bloomberg interview, claiming its launch signifies a positive shift in the crypto industry. Key points include:

The launch is seen as a "meme coin moment," potentially legitimizing digital assets.
Wood compared it to the ICO boom of 2017, which led to the rise of notable projects like Chainlink and Ethereum.
Trump's token, launched on January 17, initially surged to $77 but is now trading around $17, raising questions about its use cases.
Wood noted the only confirmed use case is its connection to Trump.
Despite her initial skepticism about meme coins, she acknowledges potential value in the TRUMP coin.
Wood emphasized her focus remains on top cryptocurrencies such as Bitcoin, Solana, and Ethereum due to their established use cases.

Wood's recent statements highlight a shift in perspective regarding the meme coin, although she maintains a cautious approach toward investing in such assets.