WSJ cited a conflict of interest over Trump's memcoin launch
US President Donald Trump's memcoin launch creates a serious conflict of interest, The Wall Street Journal wrote on January 22.
"The tokens have drawn sharp criticism from ethics watchdog organizations that say it creates a significant conflict of interest for the president," the piece said.
According to supporters of this point of view, it is about the destruction of any boundaries between the political and business sides of the life of the head of state.
The newspaper claims that foreign companies and governments can start buying new tokens to gain favor with Trump.
Earlier, on January 20, Trump's inauguration took place. Two days before that, on Jan. 18, Trump announced the launch of the $TRUMP memcoin.
The mock currency's slogan reads "Fight, fight, fight." In less than 24 hours, its value quadrupled. The next day, the American leader's wife Melania Trump also announced the launch of her own memcoin - $MELANIA.
