Following the recent launch of meme coins by Donald and Melania Trump, scammers quickly capitalized on the hype, notably with a fake coin named after Barron Trump. This coin saw a brief valuation of over $400 million before suffering a severe crash, illustrating common scams within the largely unregulated crypto market, termed rug pulls. Eric Trump attempted to combat confusion over other false tokens claiming legitimacy, while the crypto community expressed skepticism towards the Trump family's involvement in this controversial sector.
A fake meme coin named after Trump's youngest son Barron skyrocketed to a valuation over $400 million before plummeting by more than 90%.
Trump's family has had to combat numerous crypto scams misleading the public, including false claims about new coins associated with his name.
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