There's a Push to Ban Elected Officials From Launching Meme Coins. Is Meme Coin Mania Finally Over?
Hype-based cryptos backed by politicians have a history of leaving holders poorer.
Overview
Nearly 1 million buyers of the Official Trump (CRYPTO: TRUMP) meme coin are reportedly underwater on their investment, down by around $3.8 billion in total, per blockchain analytics firm Nansen. Meanwhile, President Donald Trump's annual financial disclosure listed $636 million in income from the same coin in 2025. The token sent a slice of every trade back to the issuer, paying out whether the price rose or crashed.
Now, some in the Senate are trying to close that door by banning elected officials from launching meme coins. If it passes, would that mean meme coins are a thing of the past?
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
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