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On the evening of January 17 local time, US President-elect Trump announced the launch of his personal cryptocurrency, which caused a huge response in the cryptocurrency market.
The price of this cryptocurrency called Trump has soared.According to CoinGeko data, the market value exceeded US$3 billion in just one hour of issuing coins.The next day, it continued to rise, and the market value of the entire dilution once exceeded US$80 billion.According to Forbes ranking data, if the price of Trump rises to $270, Trump will become the richest man in the world.
Subsequently, on the evening of the 19th local time, Melania Trump also issued her “First Lady Coin”, and its market value quickly exceeded US$10 billion. As of press time, both currencies have fallen a lot..
Compliance disputes after issuing coins
With the rapid price increase, Trump coins investors have gained huge returns from the rapid price increase.People keep showing off their profits on X, and countless millionaires are added overnight.David Sacks, the new cryptocurrency policy chief appointed by Trump, said“The terror reign against cryptocurrencies is over, and the beginning of crypto innovation in the United States has just begun.”
Meanwhile, there are also concerns about the more serious consequences of political power’s linkage with the cryptocurrency market.Cryptocurrency executives spent an unprecedented $130 million for the 2024 election, raising questions about industry control over regulators.In addition, the Trump coin price fluctuated significantly within 48 hours after its launch and then fell, which also confirmed the industry’s concerns.
“Trump owns 80% of Trump and launches the product a few days before the inauguration, which is predatory and many people may be hurt by it,” said Nick Tomaino, a cryptocurrency venture capitalist.
Other critics say Trump may become a dangerous way for special interest groups to try to buy the president’s influence.”Now anyone in the world can deposit money into the U.S. president’s bank account with just a few clicks,” said Anthony Scaramucci, former head of communications at Trump’s White House.
With the news of Trump and his wife releasing cryptocurrencies, the incident not only attracted widespread attention from the market, but also sparked discussions about its security and compliance.Since the cryptocurrency market is still in a stage of continuous development and the relevant legal frameworks and regulatory policies are not yet fully defined, it is urgent to ensure that these newly released tokens can be traded and operated within a legal and compliant framework.The problem solved.
Beosin KYT hasSupport Trump currency query
In addition, there is another winner hidden under the hot transactions of Trump coins, that is Solana.Trump coins and Melania coins are both released on the Solana platform.As a high-performance public chain, the Solana ecosystem is growing, and more and more funds are entering the Solana ecosystem to participate in various transaction activities.
At present, the Beosin KYT system has fully supported the query function of Trump currency.This move not only enhances the transparency and security of digital currency transactions, but also provides users with more efficient anti-money laundering and compliance monitoring services.By monitoring the transaction flow of Trump coins in real time, Beosin KYT helps users ensure that transaction activities comply with international financial regulations, reduce potential risks, and further promote the healthy development of the blockchain industry.
Add Trump currency to Beosin KYT
Beosin KYT conducts risk assessment of a phishing address based on Trump currency
Beosin KYT has been updated for Solana’s account design, based on blockchain big data analysis technology and advanced AI technology, through billions of address tags and black address libraries,Identify any suspicious transactions on the Solana chain, conduct comprehensive risk assessments, and identify risks in on-chain relationships, help exchanges and Solana ecological project parties build the capabilities of KYT and continuous address risk assessments.
Written at the end
The incidents of Trump and his wife releasing cryptocurrencies have not only demonstrated the potential of the crypto market, but also aroused widespread attention and doubt.With the rapid response of the market, the surge in prices of Trump and Melania coins is undoubtedly a testament to the enormous appeal of cryptocurrencies as emerging investment assets.However, the ensuing security and compliance issues cannot be ignored.How to ensure that these tokens can be traded and operated within a legal framework and avoid illegal behavior or market manipulation has become the focus of industry attention.
With the continuous development of the cryptocurrency market and the gradual improvement of relevant regulatory policies, ensuring the security and compliance of tokens will be an essential responsibility for every crypto project.The rapid development of cryptocurrencies cannot be separated from the dual guarantees of compliance and security. Only by ensuring security and compliance can we lay a solid foundation for the long-term development of the crypto market.With the gradual improvement of regulatory policies and the continuous innovation of technical means, the future cryptocurrency market will flourish in a healthier and orderly environment.
