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The Trump family has threatened legal action against TrumpCoin, a cryptocurrency created in 2016 “in honor of Donald J. Trump.” Eric Trump says cryptocurrencies have nothing to do with the Trump family. “We are not authorized to use and we are in no way affiliated with this group. Legal action will be taken,” he said.
Trump family threatens lawsuit against Trumpcoin
Eric Trump, the son of the former president and a Trump Organization executive, tweeted about the cryptocurrency Trumpcoin on Monday.
“Fraud Alert: We have noticed that a cryptocurrency called ‘trumpcoin’ (symbol ‘TRUMP’) is being promoted,” he wrote, adding:
This has nothing to do with our family, we do not authorize the use, and we are in no way affiliated with the group. Legal action will be taken.
According to the Trumpcoin website, the cryptocurrency was created in February 2016 “in honor of Donald J. Trump.” Trumpcoin has a market cap of around $1.3 million. At the time of writing, its price is around $0.26.
The Trump Coin FAQ page states that the coin and its website are “not owned, operated, endorsed or otherwise affiliated with the Trump brand.”
At the time of writing, Eric Trump’s tweet has garnered 1,300 comments. It has been retweeted 3500 times and liked 11400 times.
It was pointed out that the Trumpcoin website made it clear that the cryptocurrency was not associated with the Trump brand in any way. Several others told Eric that the Trump family does not own the word “Trump.” Some mocked the Trump family for noticing a coin that appeared for the first time since 2016.
Former US President Donald Trump has never been a fan of Bitcoin or cryptocurrencies. In December, he said that cryptocurrencies are “very dangerous,” warns of an explosion we’ve never seen before. He has repeatedly said he doesn’t want any other currency may hurt the dollar.
What do you think of the Trump family’s threat to sue Trumpcoin? Let us know in the comments section below.
Image Source: Shutterstock, Pixabay, Wiki Commons
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