Donald Trump’s Crypto Czar compares meme tokens with NFTs & baseball cards, Skybridge Capital CEO objects
David Sacks’s statement regarding meme tokens acted as a new catalyst to initiate a new controversial discussion among crypto enthusiasts.
In a recent interview with Fox Business, just after US President Donald Trump signed an executive order seeking to make the USA a top world leader in the crypto adoption race, David Sacks, a leader in the Trump administration who is responsible for overseeing & advising on cryptocurrency policy & regulation, responded to a question over the legal nature of digital assets & said that these tokens can be different things.
Sack stated that these digital assets could be securities, commodities, collectables like NFTs or meme tokens. Trump’s Crypto Czar compared the $Trump meme token with NFTs.
Here, crypto folks need to understand that Sack is not an official of the regulatory body, but his statements carry a lot of weight as the regulatory framework called for in Trump’s executive order is built.
Some experts said that with such statements Sack tried to defend Trump’s meme token $Trump.
Skybridge Capital CEO Anthony Scaramucci shared his opinion on this statement and said that we could transfer money globally in Trump’s bank account within a matter of clicks using these meme tokens.
Anthony indirectly said that how can we say that there is nothing wrong with the $Trump token, and we can’t call it collectables blindly.
All these statements by top influential people are creating a new level of speculation among crypto enthusiasts and also providing a point to start new controversy against Trump, as his influence in the crypto sector is increasing rapidly day by day.
$Trump & $Melania token controversy
A week ago, Donald Trump & his wife, Melania, launched their corresponding meme tokens, namely the $Trump token & $Melania token.
With the launch, the market value of the $Trump token surged to $5.5 billion, but in the present time, this market cap value is standing at $5.3 billion.
It is a bitter truth that the websites belonging to these meme tokens clearly mentioned these tokens as an alternative form of NFTs and called them non-financial assets. But in reality, people can use these tokens to transfer money from one country to another without any restrictions.
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