Trump first talked about $TRUMP: heard it was very successful but not very familiar... the price of the currency plummeted by more than 25% at one point

Trump responded to the launch of the meme coin $TRUMP by saying, "I'm not sure if it's profitable, I don't know much about it, I just know it's something I launched and I hear it's very successful. I haven't checked." (Background: Legal Be Played for Suckers? Trump's meme coin $TRUMP comes with a collective lawsuit waiver clause) President Trump announced yesterday (21) at a press conference that OpenAI, SoftBank Group of Japan and Oracle have jointly established a joint venture "Stargate" (Stargate), planning to invest up to US$500 billion in the future 4 years to build artificial intelligence (AI) infrastructure for the United States. At the meeting, Trump also responded to reporters' questions about his official meme coin $TRUMP. Trump responded to $TRUMP meme coin: I don't know much, but I heard it's very successful. Regarding the launch of the meme coin $TRUMP, Trump said, "I'm not sure if it's profitable, I don't know much about it, I just know it's something I launched. I hear it's very successful, I haven't checked." Trump's seemingly unclear statement about the token seems to have also hit market confidence. $TRUMP quickly Long Wick Candle to $35.2 during the press conference, plummeting more than 25% for a short time, but has rebounded to $41.98 at the time of writing. When asked about Trump earning billions of dollars through $TRUMP, Trump casually responded, "It's small change for these people (presumably referring to Son and others)." It seems to imply that the future value is not just that? But it may also be because he is now the president and it is not convenient to talk too much. TD Cowen: Trump's meme coin makes it harder to promote encryption bills. Trump's launch of the meme coin $TRUMP has sparked polarized reactions in the encryption community. Some believe that this move shows Trump's support for cryptocurrency, which will help promote industry development and create a more open environment; however, experts also criticize that the launch of the meme coin may distract market attention from greater value in the encryption industry. Investment bank TD Cowen pointed out that this move may hinder the progress of both parties in promoting legislative structure for the cryptocurrency market. Jaret Seiberg, head of the bank's Washington research team, said, "The Democratic Party may ask Trump's team to clarify whether foreign governments or companies are pleasing the Trump team by buying TRUMP coins, which makes it difficult to promote encryption bills. These bills require bipartisan support to become law." Seiberg added that the Democratic Party may investigate TRUMP coin transactions, soaring prices, and whether the Trump family has profited from them, while the Republican Party may choose to defend, deepening the divide between the two parties. "We believe that the Trump family or the government is unlikely to cooperate with the Democratic Party's investigation," Seiberg said. The launch of the meme coin makes it harder for Congress to reach a consensus on the encryption market rules, which is crucial for solving the current legal uncertainty issues that restrict investors. "This is also why we are concerned about Trump's decision to issue meme coins," Seiberg said. Not worried about delaying encryption legislation. To avoid affecting the legislative process, Seiberg suggested that the investigation of the meme coin should be separated from the encryption legislation, and let other Democratic Party leaders be responsible for relevant investigations to minimize interference with the bill's progress. However, overall, Seiberg believes that the risk of delaying encryption legislation is not significant, as the legislative process of the two parties may be delayed until 2026, and the election pressure will be reduced by then, and relevant investigations can be completed before the vote. Related reports: Trump's meme coin brews US constitutional crisis? Forbes: $TRUMP may be viewed as an encryption security by the SEC. The craziest in history: What is Trump's meme coin $TRUMP? Token economics, will it airdrop NFT holders, and comments from all parties... Trump's coin was reported by Taiwanese people for violating anti-money laundering law. PTT encryption moderator: FSC should catch up soon. "Trump talks about $TRUMP for the first time: I heard it's very successful but don't know much... Coin price plummeted more than 25% at one point." This article was originally published in BlockTempo.