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TRUMP.FUN
–
Former
President
Donald
Trump’s
speech
just
a
couple
weeks
ago
at
the
Bitcoin
Nashville
conference
now
seems
like
a
distant
memory.
Not
only
has
he
been
overtaken
by
Vice
President
Kamala
Harris
as
the
frontrunner
in
this
year’s
U.S.
presidential
election
–
at
least
in
the
eyes
of
punters
on
the
prediction-betting
site
Polymarket
–
but
his
name
and
family
members
are
now
regularly
getting
dragged
into
conversations
about
memecoins.
It
started
last
week
when
one
of
his
sons,
Eric
Trump,
tweeted
that
he
has
“fallen
in
love
with
Crypto
/
DeFi.
Stay
tuned
for
a
big
announcement,”
as
related
by
CoinDesk’s
Krisztian
Sandor.
Then
on
Thursday,
a
newly
launched
cryptocurrency
on
Solana
(SOL)
called
Restore
the
Republic,
or
RTR,
rumored
to
be
the
official
token
of
Donald
Trump,
began
trading,
shooting
to
a
$155
million
market
capitalization
within
hours
after
the
launch.
Eric
Trump
then
warned
users
of
“fake
tokens”
and
said
that
the
“only
official
Trump
project
has
not
been
announced.”
RTR
tumbled
95%.
His
brother,
Donald
Trump
Jr.,
tweeted
that
while
he
loves
“how
much
the
crypto
community
is
embracing
Trump,”
traders
should
“beware
of
fake
tokens
claiming
to
be
part
of
the
Trump
project.”
Then
there
was
the
former
president’s
Spaces
session
on
Monday
with
X
owner
Elon
Musk,
during
which
the
pair
notably
didn’t
even
mention
Bitcoin
or
crypto.
According
to
The
Block,
the
omission
sent
prices
tumbling
for
the
tokens
with
names
like
MAGA
Hat
and
Doland
Tremp.
The
crypto
news
site
Decrypt
reported
that
some
10,000
tokens
were
launched
during
the
Spaces
on
the
meme
coin
launchpad
Pump.fun,
where
the
$2
issuance
fee
was
completely
eliminated
earlier
this
week
–
making
it
that
much
easier
and
cheaper
to
launch
a
token.
Based
on
one
account
posted
on
X,
after
Trump
uttered
the
phrase
“rough
people”
about
five
times
in
a
row,
there
were
at
least
10
distinct
memecoins
launched
with
the
name
“ROUGH
PEOPLE.”
Some
memecoin
traders
complained
that
using
Pump.fun
was
“not
fun
anymore”
because
there
were
“10,000
scams.”
But
for
at
least
one
commenter,
watching
the
action
felt
almost
like
a
news
feed:
“I
don’t
even
need
to
watch
the
space
when
there’s
pump
fun.”
