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YouTuber Stephen "Coffeezilla" uploaded a video earlier today (January 18, 2025) discussing Donald Trump's viral "meme coin". For those unaware, yesterday, President-elect Donald Trump announced a Solana-based meme coin $TRUMP via his official X page. And for those wondering, no, Trump's X account wasn't hacked — it was a legitimate post.
Coffeezilla has previously investigated various Crypto projects, most notably $HAWK by Haliey "Hawk Tuah girl". Today, he released a new video discussing the Trump administration's venture into the Crypto world. Describing the project, he said:
"I'm speechless actually. I don't know what to say. It's historic in its stupidity. It's historic in its grift. The level of scam here to use the days before your presidency, your inauguration, to use that as a hype project for the meme (coin)...like, did this guy want to do the presidency or was this the meme coin hype plan?"
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80% of $TRUMP is owned by President-elect Donald Trump's team, reveals Coffeezilla
Coffeezilla has uploaded a new video on his secondary channel, Voidzilla, where he unveiled the allocation details of Trump's meme coin, $TRUMP. According to the website, 80% of the coin is owned by Trump's team.
Coffeezilla stated that while some crypto enthusiasts might profit from the coin, the majority of people are likely to lose money on it:
"Most people who this is actually targeted at, which is normies, who go, 'What's a Solana?' 'I just learned what Bitcoin was,' 'Can I buy it with a credit card?' Roasted dude. Game over. Obliterated. You're gone."
Coffeezilla also questioned whether the coin was even permitted or legal, stating that it raises ethical concerns:
"Is somebody gonna stop this? Is this allowed? How do you expect to lose interest in the coin when the guy is running the free world? And that's not an endorsement because the coin is going to be sold by insiders."
He added this on his X:
"Dropping TRUMP memecoin 2 days before becoming president is nasty work."
According to Binance.com, $TRUMP is the second-largest meme coin of all time. One user reportedly turned $231 into $2.39 million, achieving a 555,282% return on investment. The coin has already reached $1 billion in trading volume and a market cap of $14.5 billion.
