Eric Trump Goes Off on TrumpCoin: New Lawsuit Brewing Over Crypto?
A storm is brewing around TrumpCoin, the cryptocurrency that has apparently finally drawn the ire of the Trump family. Six years after entering the market, Donald Trump's son, Eric Trump, goes off, threatening legal action. But what sparked this sudden outrage?
Eric Trump tweeted Monday a fraud alert on Trumpcoin, saying the coin has no ties with the Trump family. He then said there would be legal action against the project. ERIC Trump announced on Monday that he is planning to take legal action against the cryptocurrency 'TrumpCoin.'
Why Now? Eric Trump's Strong Denouncement
Almost six years after the coin launched, Donald Trump's son Eric has publicly disavowed the project for the first time. The former president's son Eric Trump fired off a threatening tweet to TrumpCoin for using his family’s name fraudulently, although the token’s Twitter account insists otherwise. Eric Trump goes on to write that this cryptocurrency project has nothing to do with the Trump family, and that they do not authorize the use and we are in no way affiliated.
TrumpCoin Under Scrutiny: Legal Battles Ahead?
Lawyers warn an influx of lawsuits against TRUMP is imminent, but can they really derail the president’s crypto goals, if any exist? The Trump family's legal team is likely building a case. A businessman who pumped $75 million into the Trump family-backed crypto token finds himself in a fortunate position this week as federal securities regulators are hitting other similar ventures, adding potential fuel to the fire.
The third child of former President Donald J. Trump is clearly not happy. With Donald Trump having long been critical of cryptocurrencieswarning about their inherent risks, this distancing from TrumpCoin might be a strategic move.
Is this the beginning of the end for TrumpCoin? Or will they weather the storm of this high-profile legal challenge? Stay tuned for updates as this story develops.