Trump Family Threatens Legal Action Over Trumpcoin Crypto — Says ‘We Do Not Authorize the Use’ – Altcoins Bitcoin News

The Trump family has threatened legal action over trumpcoin, a cryptocurrency created in 2016 “to honor Donald J. Trump.” Eric Trump said that the crypto has nothing to do with the Trump family. “We do not authorize the use and we are in no way affiliated with this group. Legal action will be taken,” he said.

Trump Family Threatens Lawsuit Over Trumpcoin

Eric Trump is the son of former President Donald Trump and an executive at Trump Organization. He tweeted Monday about crypto currency trumpcoin.

“Fraud Alert: It has come to our attention that someone is promoting a cryptocurrency called ‘trumpcoin’ (Symbol ‘TRUMP’),” he wrote, adding:

It has nothing to do our family. We don’t authorize its use, and we are not affiliated with the group. This will result in legal action.

According to the Trumpcoin website, the cryptocurrency was created in February 2016 “in order to honor Donald J. Trump.” Trumpcoin has a market cap of about $1.3 million. The price of the cryptocurrency is currently $0.26 at the time it was published.

The FAQ page for Trumpcoin states that the coin and its website are “not owned, operated, endorsed by or otherwise affiliated” with the Trump brand.

At the time of writing, Eric Trump’s tweet has garnered 1.3K comments. It was retweeted 35,000 times, and like 11.4K.

One person pointed out that Trumpcoin clearly stated that it was not associated with Trump’s brand. Several others told Eric that the Trump family does not own the word “Trump.” A few mocked the Trump family for noticing a coin that has been around since 2016 for the first time.

Donald Trump, the former President of the United States, has not been a big fan of cryptocurrency or bitcoin. In December last year, he said crypto is “very dangerous,” warning of an explosion like we have never seen before. He stated repeatedly that he did not desire any currencies that could harm the U.S. dollar.

How do you feel about Trump’s family threat of suing over the trumpcoin issue? Comment below to let us know your thoughts.

Kevin Helms

Kevin is a graduate of Austrian Economics. He discovered Bitcoin in 2011, and has been an advocate ever since. His main interests are in Bitcoin security, open source systems, network effects, cryptography, and intersections between economics, cryptography, and Cryptography.