U.S. Representative Maxine Waters: TRUMP represents the "worst side of Crypto"

2025-01-21 08:55:57

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ChainCatcher news, according to Cointelegraph, U.S. House Financial Services Committee Democratic leader and California Congresswoman Maxine Waters responded to the concerns of many cryptocurrency users and lawmakers who accused Trump of launching a meme coin that undermines legitimate projects in the cryptocurrency industry.

In a statement on January 20, Waters stated that Official Trump (TRUMP) represents "the worst side of crypto" and provides a case for regulators and policymakers to worry about the future of the cryptocurrency industry under the new presidential administration. She noted that after insiders of TRUMP sold off the tokens, investors would "pay the price," which has been accused of being a "rug pull."

She also stated, "Even if buyers are deceived, the terms and conditions of the token prohibit them from filing a class-action lawsuit." She added, "The lack of transparency for buyers of this cryptocurrency is concerning. Through his meme coin, Trump has created a way to circumvent national security and anti-corruption laws, allowing parties to anonymously transfer funds to him and his inner circle."

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