Donald Trump’s TRUMP Memecoin Poses National Security Risks, Says Maxine Waters

Nynu V Jamal
January 23, 2025
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Highlights

  • Maxine Waters slams Donald Trump's TRUMP memecoin as the worst of cryptocurrencies.
  • The California Representative cautions that the memecoin poses threat to national security.
  • Experts like John Deaton highlight the significance of memecoin regulations.

US President Donald Trump’s recent launch of TRUMP memecoin faces another backlash from Maxine Waters, the top Democrat on the House Financial Services Committee. During the US House Financial Services Committee meeting, the California Representative warned that the TRUMP meme coin poses a potential threat to the national security.

Notably, Donald Trump’s token launch and the cryptocurrency’s rollercoaster ride have significantly sparked widespread attention. Reflecting on the recent memecoin spree, Waters criticized Republican lawmakers for failing to address potential conflicts of interest involving the US President.

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California Representative Slams Trump’s TRUMP Memecoin

During an organizational meeting on January 22, Maxine Waters addressed Republicans’ omission of crypto in the oversight plan as “alarming.” Narrating the adverse impacts of the President’s TRUMP meme coin, she called the token “the worst of crypto.” Further, Waters added,

Trump has created a way to circumvent national security and anti-corruption laws, allowing interested parties to anonymously transfer money to him and his inner circle.

Meanwhile, Chairman French Hill elaborated on the committee’s focus on crypto regulations. He promised to bring legal clarity to cryptocurrencies, ensuring the US to lead the global financial landscape.

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Market Mayhem: Experts Call for Clarity

Trump’s launch and promotion of the TRUMP meme coin have equally sparked fascination and controversy. Crypto entrepreneur Erik Voorhees described the token as “stupid and embarrassing.” Many including Maxine Waters criticized the Trump family for engaging in the memecoin spree for personal gains.

Driven by the increasing market tensions and TRUMP’s wild ride, experts like John Deaton and Bill Morgan highlighted the need for clear crypto regulations. Many spotted meme coin regulation as the highest priority for the upcoming crypto policies.

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Trump Admin Remains Silent on Crypto

Donald Trump’s explicit silence on crypto following his inauguration has fueled concerns over his potential policies. The TRUMP memecoin saga, coupled with the President’s exclusion of crypto terms in his plan, leaves the crypto community worried.

However, experts look ahead for Trump’s next set of executive orders. They believe that the Crypto Council would possibly address concerns including SAB 121 and Bitcoin reserve.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Nynu V Jamal is a Senior Journalist at CoinGape. She boasts more than 3 years of experience in content writing, with expertise in crypto and blockchain. She has contributed to platforms like CoinEdition and CryptoTale, demonstrating her proficiency in navigating the dynamic crypto landscape. Beyond her journalistic pursuits, Nynu is a literary enthusiast, having served as an Assistant Professor of English Language and Literature. She is a Master's degree holder in English Literature and a UGC NET qualifier. Her academic background has enabled her to publish research papers on literature, while also nurturing her creative side as a published poet. Her creative side extends to music, crafts, and art, which she actively explores. Her unique blend of analytical and creative skills allows her to craft engaging stories that captivate audiences. Stay updated with Nynu on LinkedIn
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.