Scaramucci Labels Trump’s Meme Coin Launch as Corrupt, Questions Ethical Implications

• Anthony Scaramucci criticized the launch on social media, labeling it as corrupt and detrimental to the cryptocurrency industry.
• Need for stringent regulations highlighted by rapid market reactions and ethical concerns raised by industry insiders.

Anthony Scaramucci, a former aide, has openly criticized Donald Trump’s recent launch of a meme coin dubbed “$TRUMP,” questioning the ethical implications of its rapid market success and labeling the venture as corruption.

On Saturday, Trump unveiled the “$TRUMP” meme coin, developed on the Solana platform . The coin witnessed a dramatic surge in its market value, escalating from $0.18 to $26.95 within just 24 hours—a 253.75% increase. This spike in price pushed the coin’s market cap to an impressive $5.39 billion.

Scaramucci took to social media platform X to express his disapproval, describing the coin’s launch as “corruption” and detrimental to the cryptocurrency industry. His criticism underscores growing concerns about the ethical boundaries of such ventures, especially those linked to prominent public figures.

The Trump meme coin stuff is bad for the industry. Don’t delude yourself. It’s Idi Amin level corruption.

— Anthony Scaramucci (@Scaramucci) January 18, 2025

Trump’s History with Merchandise

This initiative is not Trump’s first attempt to monetize his brand ; he has previously marketed various items featuring his image, including digital trading cards and apparel. His niece, Mary Trump, has accused him of exploiting his brand for personal gain, a practice known colloquially as “grifting.”

The $TRUMP memecoin, recently launched by Donald Trump, has experienced a significant surge in value, skyrocketing from $20 to over $70 per token in a short period. With trading volume surpassing $24 billion in a single day, the token has drawn considerable interest from investors and captured global market attention.