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“Polkadot Blockchain Academy is committed to bridging this gap, ensuring that decision-makers have the resources they need to craft practical policies that foster innovation while maintaining safeguards, Hill added.
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“Polkadot Blockchain Academy is committed to bridging this gap, ensuring that decision-makers have the resources they need to craft practical policies that foster innovation while maintaining safeguards, Hill added.
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Trump’s memecoin, Official Trump (TRUMP), launched on Jan. 17 and has skyrocketed by 10,643%, reaching $27.50 at the time of publication, according to data from the memecoin trading platform Moonshot.
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It comes just days before Trump is set to be inaugurated as the US president on Jan. 20, with speculation he may even designate crypto as a national priority on his first day in office.
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Crypto exchange Swyftx lead analyst Pav Hundal told Cointelegraph that the strong reception of the TRUMP memecoin so far is a good sign, giving the industry a glimpse of what might come during the next four years of the presidential term.
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“No-one wants to hear from the bears right now. Trump 2.0 is already a sugar rush and he hasn’t even started his Presidency yet,” Hundal said. He added:
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Although TRUMP has shown how high and quickly demand for crypto can surge, Hundal said that the “true value” of Trump’s presidency will depend on the “long-term environment it creates.”
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Meanwhile, others say while the TRUMP token has attracted many new users to crypto, it could harm the industry in the long run. “Here we are on the verge of sensible regulation,” he said.
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It comes after initial doubts surfaced when the token was first announced on Trump’s social media, with some wondering if his account had been hacked.
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Scott Melker, aka “The Wolf of All Streets,” said in a Jan. 18 X post that Trump’s memecoin is a significant benefit for crypto but “bad for humanity.” Melker added:
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Moonshot, the platform Trump pointed his followers to for purchasing the memecoin, reported more than 200,000 new onchain users since the token launched.
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“It’s a gratuitous cash grab, not sure how anyone can argue against that,” Melker said while pointing out that insiders sniping the supply at launch means they hold 80% of the supply.
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“It’s a gratuitous cash grab, not sure how anyone can argue against that,” Melker said while pointing out that insiders sniping the supply at launch means they hold 80% of the supply.
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Moonshot, the platform Trump pointed his followers to for purchasing the memecoin, reported more than 200,000 new onchain users since the token launched.
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Scott Melker, aka “The Wolf of All Streets,” said in a Jan. 18 X post that Trump’s memecoin is a significant benefit for crypto but “bad for humanity.” Melker added:
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The money laundering charge was part of a superseding indictment not initially filed as part of the eight-count indictment against Kwon in March 2023. Prosecutors filed the indictment under seal in May 2024, and a judge ordered it unsealed amid Kwon’s court appearance on Jan. 2.
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Kwon, alleged to have been involved in the 2022 collapse of the Terra ecosystem, was arrested and jailed in Montenegro for using falsified travel documents in 2023. Authorities from the US and South Korea filed competing petitions to extradite the Terraform co-founder, but Montenegrin authorities did not decide on his legal status until December 2024, when Kwon was handed over to US officials.
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The Terraform co-founder appeared in court on Jan. 2 and pleaded not guilty to all charges, agreeing to be held in detention. It’s unclear whether US authorities will consider a plea deal or intend to move forward with a criminal trial.
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Kwon’s case parallels that of former FTX CEO Sam “SBF” Bankman-Fried — another crypto executive who was subject to another country’s jurisdiction (the Bahamas) before being extradited to the US. In SBF’s case, his lawyers were able to argue a campaign finance charge added to a superseding indictment should be dropped as it was not part of the extradition request.
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Bankman-Fried was later convicted of seven felony counts and sentenced to 25 years in prison, but he has filed an appeal.
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