It’s been less than a week since President Donald Trump launched his own meme coin on the eve of his inauguration—and yet, in crypto, it’s felt like half a lifetime. 

Though he’d embraced crypto in numerous ways, Trump—arguably the most famous person on Earth—suddenly shilling his own meme coin, while ascending to (arguably) the most powerful position on the planet, broke a few brains and fried several more. 

That the president may have just enriched himself to the tune of several billion dollars while serving in office appeared to surprise many, including the president himself. When asked earlier this week about the meme coin, Trump said he “didn’t know much about it other than I launched it” and “heard it was very successful.”

Many have asked this week, some in giddiness, others in despair: How could this be happening? More to the point: Is something like this even legal? 

Decrypt posed the question to legal experts and researchers of presidential power, who all agreed: Like it or not,

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Author: Sander Lutz