'F-k this coin': Crypto traders fall out of love with Trump's digital ventures [View all]
Source: Politico
04/23/2026 04:46 AM EDT
President Donald Trump’s memecoin was once the talk of Washington. No more. Eleven months ago, a gala dinner for major investors in the cryptocurrency token set off a buying frenzy from MAGA-loving crypto traders, outrage among Democrats and a headline-grabbing protest at the event. But a similar event planned for Saturday at Mar-a-Lago is highlighting a growing disenchantment with Trump’s crypto ventures.
Over the last year, investors have shunned the so-called $TRUMP memecoin, a type of collectible crypto token whose logo depicts Trump raising his fist in the air and the words “Fight Fight Fight.” The memecoin is currently down more than 95 percent from its January 2025 high. Just a handful of lawmakers have publicly bashed the conference. And ethics watchdogs are only now starting to bark about it.
“Nobody likes it,” said Morten Christensen, a crypto investor who still plans to attend the Mar-a-Lago event and was at the 2025 dinner. “People are losing on the coin, and they are vocal. They are the people on Twitter like, ‘Fuck this coin’ or ‘It’s a scam.’ And they’re right, basically.”
Launched just days before his inauguration, Trump’s memecoin is overwhelmingly held by two entities: an affiliate of the Trump Organization and a company run by Bill Zanker, a longtime Trump business partner. Both collect fees on the memecoin’s trading, according to its website. Memecoins are a highly volatile type of crypto token that generally have no inherent value and trade based on online fervor. The tokens have struggled for much of the last year, amid a broad crypto market sell-off. But Trump’s other recent ventures haven’t fared much better.
Read more: https://www.politico.com/news/2026/04/23/crypto-traders-disenchanted-trump-memecoin-00888035?utm_content=topic/technology&utm_source=flipboard
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