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The Guardian - US
The Guardian - US
Technology
Richard Luscombe

Trump’s meme coin sparks more than 700 copycats posing as official crypto

Donald Trump Crypto Melania Eswar Prasad FT United States
a man speaking at a bitcoin event
Donald Trump at the Bitcoin 2024 event in Nashville, Tennessee, on 27 July 2024. Photograph: Kevin Wurm/Reuters

Despite once calling cryptocurrency “a scam”, Donald Trump made a theoretical fortune of billions after launching a self-named and highly controversial meme coin immediately before his second inauguration in January.

Now an army of digital imposters is trying to cash in on the president’s name and online presence to make their own crypto killing, according to a report in the Financial Times that details hundreds of “copycat and spam coins” uploaded to Trump’s official wallet in cyberspace.

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