Trump Coin Launch Faces Scam Allegations Over 80% Insider Control

The launch of the meme coin associated with Donald Trump has raised concerns in the cryptocurrency community, with allegations labeling it a scam.

Key Concerns

Insiders hold 80% of the TRUMP coin supply, leading to potential market manipulation.
This concentration indicates a risk of control over the token’s value by a small group, raising alarms for public investors.
Lack of transparency and utility in the project raises skepticism among analysts.
Verification on the Phantom Wallet does not guarantee safety for investors.
The project is criticized for exploiting excitement around popular figures to attract investment in low-value tokens.
Concerns grow that such projects could tarnish the reputation of the broader crypto sector, deterring new investors.
Increased regulatory scrutiny may follow due to heightened attention on meme coins.

Critics fear this initiative may prioritize quick profits for insiders over sustainable growth within the crypto community.