Cryptocurrency
Trump-Themed Cryptocurrency Plummets After Trump Family Denial
Friday. August 9 at 11:00 PM
1 min. readThe cryptocurrency Restore the Republic (RTR), inspired by Donald Trump, saw a drastic 95% drop in value when it was revealed to have no affiliation with the Trump family. Initially surging to $0.1490 after a misleading post by Ryan Fournier of Students for Trump, claiming it as an official Trump token, the price plummeted after Eric Trump disavowed any connection. Currently trading at $0.0091, RTR faced skepticism in the crypto community regarding Trump's son potentially launching a memecoin. Despite this, Trump Jr. announced plans for a decentralized finance platform to address banking access inequality. This incident mirrors previous instances of Trump-themed memecoins experiencing sharp price declines. Notably, the largest Trump memecoin, MAGA (TRUMP), surged following an assassination attempt on Trump. The volatile nature of these coins highlights the speculative environment of the cryptocurrency market.