TRUMP.FUN – The speech that former President Donald Trump gave at the Bitcoin Nashville Conference a few weeks ago seems like a distant memory now. Not only has he lost the front-runner spot to Vice President Kamala Harris in this year’s US presidential election, at least in the eyes of bettors at predictions betting site Polymarket, but he and his family members have also been frequently caught up in conversations about meme coins. It all started last week when one of his sons, Eric Trump, tweeted, “I’m obsessed with crypto/DeFi. Stay tuned for a big announcement,” as reported by CoinDesk’s Christian Sandor. Then on Thursday, a newly launched cryptocurrency on Solana (SOL) called Restore the Republic (RTR), rumored to be Donald Trump’s official token, began trading, soaring to a market cap of $155 million within hours of launch. Eric Trump then warned users about “fake tokens” and said, “The only official Trump project has yet to be announced.” RTR fell 95%. His brother, Donald Trump Jr., tweeted that he thinks it’s great “how much the crypto community has embraced Trump,” but that traders should “beware of fake tokens claiming to be part of the Trump Project.” It was then notable that during Monday’s Spaces session with the former president and X owner Elon Musk, the two did not mention Bitcoin or cryptocurrencies. This omission caused prices of tokens such as MAGA Hat and Doland Tremp to plummet, according to The Block. Crypto news site Decrypt reported that about 10,000 tokens were launched on meme coin launchpad Pump.fun during Spaces. Pump.fun completely eliminated its $2 minting fee earlier this week, making it much easier and cheaper to launch tokens. According to one account posted on X, at least 10 different meme coins were launched under the name “rough people” after Trump uttered the phrase “rough people” about five times in a row. Some meme coin traders complained that using Pump.fun is “not fun anymore” because of “10,000 scams.” But for at least one commenter, watching the move felt like a newsfeed: “When you have pump fun, you don’t even need to monitor the space.”
