After last week’s memecoin frenzy, fueled by the US President’s official token launch, the crypto community is split on the possible implications of Donald Trump’s memecoin venture. Ethereum founder Vitalik Buterin shared his concerns about the potential negative impact and “risks” of these tokens.

Politician Tokens: Sources Of Fun Or Vehicles For Bribery?

A week ago, US President Donald Trump took the crypto market by storm after launching his official token, TRUMP. The memecoin broke all records for newly launched cryptocurrencies, reaching a trading volume of over $10 billion, an all-time high (ATH) of $75, and a market capitalization of $15 billion in less than two days.

Nonetheless, the unprecedented launch raised concerns among the crypto community.  Many investors expressed skepticism, which intensified after seeing the token’s allocation was revealed. According to the official website, only 20% of the 1 billion TRUMP tokens created would be available to the public, while the other 80% was allocated to the issuers.

As a result, several community members have stated their doubts about the potential long-term implications of the TRUMP memecoin. Among these, Ethereum’s co-founder, Vitalik Buterin, took X to share his perspective.

On Thursday, Buterin revealed his concerns about “the risks of politician coins,” explaining that it’s time to open a conversation about the industry’s “new order”:

Over the last year, we have been entering a new order. Now, the most powerful people in the world are cheering on the idea of anyone creating tokens for anything, at any scale. And so now is the time to talk about the difference between sugar-high short-term fun that is unwise to recommend to newbies, and long-term fulfillment and wealth-building.

To the Ethereum founder, the conversation should not be about “fun is bad” but “the fact that large-scale political coins cross a further line.” He considers these tokens not to be a s

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Author: Rubmar Garcia