#Trump's crypto launch draws criticism#

The release of the TRUMP meme coin by Donald Trump has drawn criticism from multiple non-profit organizations in the United States, who argue that the move is unethical and potentially rife with conflicts of interest. Danielle Brian, executive director of the nonpartisan Project on Government Oversight, stated that meme coins are often unrelated to any underlying business, are highly speculative for investors, and can be extremely lucrative for founders, further blurring the lines. The organization believes that any move by the Trump Organization to indicate concern over potential conflicts, particularly those involving foreign governments, appears to be completely undermined by this effort. Other groups raising concerns include the non-profit Campaign Legal Center and the government accountability and ethics organization Citizens for Responsibility and Ethics in Washington, who argue that the distinctive quality of cryptocurrency is how quickly it can result in an unearned windfall. Kedric Payne, general counsel of the Campaign Legal Center, stated that Trump's release of the meme coin could lead to foreign governments or individuals influencing Trump's actions by investing in the coin, violating the constitutional prohibition against foreign gifts and emoluments.