According to the FT, in the three weeks after Trump launched Memecoin, more than 700 unauthorized cryptocurrencies have been sent to his digital wallet. The analysis found that there are 167 tokens with the Trump family theme, 67 of which use the word official in their names. Unauthorized tokens also target Trump’s children: 30 mention Barron, 26 mention Ivanka, and 10 mention Eric. Another 35 tokens are trying to connect with Trump’s ally Tesla CEO Musk. Eswar Prasad, a senior fellow at the Brookings Institution, said that Trump’s involvement in Meme has opened the floodgates to fraud and rampant speculation, exposing ordinary investors to huge risks.
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