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After discovering TrumpCoin five years after its launch, Eric Trump blasted it on Twitter. So now, devs are reaching out to the family.
The developers of the meme coin that appeared in 2016 are trying to sort things out with the Trump dynasty.
Creators of TrumpCoin claim to contact Eric Trump after he threatened legal action.
Yesterday, Eric Trump tweeted about our amazing cryptocurrency project. We are currently in direct communication with him and using this opportunity to bring clarity to our purpose as a cryptocurrency.
Moreover, they called Eric Trump’s earlier claims about the coin “friendly fire.”
We are optimistic that the language surrounding who we are will soften and we can stand firm knowing our great community can survive friendly fire.
Earlier, Eric Trump had called the project a “fraud” and threatened legal action against devs.
Fraud Alert: It has come to our attention that someone is promoting a cryptocurrency called TrumpCoin. This has NOTHING to do with our family, we do not authorize the use and we are in no way affiliated with this group. Legal action will be taken.
The creators of TrumpCoin responded with a quote from the website. In addition, they pointed to a disclaimer saying that they have no affiliation with Trump.
— Trumpcoin – #1 Patriot Cryptocurrency 🇺🇲 (@TrumpCoinWW) January 24, 2022
TrumpCoin Red Flag
The fight with Eric Trump was not the only problem TrumpCoin saw recently.
The coin received a flag from a crypto-security tracking website in early January. According to CertiK Security Leaderboard, the coin’s smart contract grants the owner unlimited mint privileges.
This could mean that the owner can create as many coins as he wants. For that reason, CertiK flagged it as a high-risk project and asked users not to interact with it.
Privileged functionalities appear in the contracts with unlimited mint privileges.
— CertiK Security Leaderboard (@CertiKCommunity) January 9, 2022
TrumpCoin is not the only project that benefited from Donald Trump’s popularity.
Yuge, Trump Inu, Donald Pump, Real Trump Token V2 are some of the smaller ones.
Moreover, in 2021 MAGA coin dropped. The coin quickly pumped, even as on-chain data showed some signs of concern. Namely, most of the coins were in the hands of the creator. Predictably, the currency collapsed quickly after its initial launch and has been trailing down since.
There are also several physical coins with Trump’s name. Unfortunately, some of these came under fire for supposedly lying in their marketing material.
‘Crypto for Patriots’
TrumpCoin describes itself as crypto for patriots, honoring Donald Trump. Devs say they want to use the coin as a “worldwide fundraiser and support tool for patriots.”
The TrumpCoin Patriot loves Freedom, God, Family and feels a sense of pride in contributing to society, They stand up against corruption, support integrity, preserve our individual rights in a free society and respect those flags around the world that represent freedom.
Despite getting negative press, the coin remained unphased by the threats. Instead, it might have benefited from the publicity. TrumpCoin is trading at above the same level as before Eric Trump’s Tweet.
Historically, TrumpCoin has seen extreme volatility, trading as low as $0.009 to as high as $0.8. The coin reached its all-time high during the 2018 election. It peaked in 2021, as more users than ever joined the crypto space.