Donald Trump Jr. distances himself from $TRUMP meme coin: 'I wasn't involved'

Donald Trump Jr. is distancing himself from his father's meme coin — while defending the family's broader foray into crypto as a response to being frozen out of the traditional banking system. "I wasn't involved in the meme coin," Trump Jr. said in an interview on CNBC's "Squawk Box." "I'm more focused on the stablecoin, the bitcoin mining." Meme coins are a class of cryptocurrency fueled by social media buzz and celebrity hype rather than real-world utility. They often skyrocket in value before crashing just as quickly — a pattern that's drawn concern from regulators, particularly when high-profile figures are involved. President Donald Trump's $TRUMP token, 80% of which is controlled by the Trump Organization and affiliated entities, has become the centerpiece of the family's expanding crypto empire. Trump Jr. noted that the token was launched before his father returned to office. The coin went live three days before the Inauguration, eventually soaring to a $15 billion market ca ... Read full article.