Trump meme coins down as NY jury finds former president guilty of felony charges

A
New
York
jury
found
Donald
Trump
guilty
on
all
34
counts
of
falsifying
business
records
to
conceal
a
hush-money
payment
to
adult-film
actress
Stormy
Daniels
just
before
the
2016
election.
This
verdict
makes
Trump
the
first
former
US
president
to
be
convicted
of
crimes
as
he
faces
current
US
President
Joe
Biden
in
November
as
the
presumptive
Republican
nominee.

Prosecutors
argued
that
Trump
led
a
broader
scheme
to
influence
the
election
by
concealing
stories
of
his
alleged
sexual
encounters
with
women.
Trump
has
repeatedly
claimed
that
the
case
as
Democratic
election
interference,
could
be
sentenced
to
as
many
as
four
years
in
prison
but
is
certain
to
appeal
and
may
remain
free
during
the
process.
Trump
has
categorically
denied
having
an
affair
with
Daniels
and
falsifying
records.

The
conviction
is
one
of
the
most
critical
moments
in
recent
US
political
history,
with
voters
deciding
whether
they
want
a
convicted
felon
in
the
White
House.
Despite
his
history
of
legal
and
personal
scandals,
Trump
retains
a
strong
position
in
the
Republican
party,
with
his
fundraising
and
political
support
remain
strong,
with
many
polls
showing
him
leading
Biden.

Trump
and
crypto

This
election
year,
Trump
has
become
an
advocate
for
digital
assets
and
crypto
during
his
presidential
campaign.
Trump
was
previously
known
for
his



critical
view
of
crypto.
In
February,
the
presidential
candidate
said
that
he
“could
live
with
it
one
way
or
the
other.”

By
May,
Trump
has
turned
around
and



vowed
to
end
hostility

to
crypto
from
the
US
government,
should
he
be
elected.
Trump
later
added
he
believes
that
the
US
“must
be
the
leader
in
the
field.”

Trump’s
new
position
is
marked
by
his
acceptance
of
crypto
donations
for
his
campaign
and
his
vocal
support
for
the
crypto
industry.
He
has
pledged
to
protect
the
rights
of
Americans
to
self-custody
their
digital
assets
and
has
promised
to
oppose
regulatory
measures
that
he
believes
stifle
the
industry’s
growth.

These
statements
and
positions
from
Trump
come
in
as
Biden,
his
rival,
has
softened
his
stance
on
crypto,
following
the
House’



approval
of
the
FIT21
bill,
despite
his



initial
opposition

to
it.

This
pivot
is
part
of
a
broader
strategy
to
appeal
to
the
50
million
crypto
holders
in
the
United
States
and
to
leverage
the
political
influence
of
the
growing
crypto
community.
Trump’s
embrace
of
crypto
is
also
a
direct
challenge
to
the
Biden
administration’s
regulatory
approach,
which
he
criticizes
as
hostile
towards
the
industry.
He
has
promised
to
“crush”
what
he
describes
as
Biden’s
anti-crypto
stance
and
to
prevent
the
creation
of
a
central
bank
digital
currency
(CBDC).

Impact
to
elections
and
Trump-inspired
meme
coins

Trump-inspired
meme
coins
such
as
TRUMP
(MAGA)
have
reacted
to
the
verdict,
with
the
token
down
18%
over
the
last
24
hours,
with
a
roughly
25%
dip
less
than
an
hour
before
the
announcement.
Notably,
though,
the
past
hour
since
the
jury’s
findings
have
seen
the
token
rebound
by
2.4%.
A
recent
chart
from
GeckoTerminal
is
shown
below
for
reference.

Lower
market
cap
meme
coins
inspired
by
Trump
such
as
MAGA
Hat 
and
Super
Trump
(STRUMP)
are
both
down
by
16%
(over
an
hour),
with
MAGA
VP
(MVP)
down
22%
over
the
same
period.
Notably,
jeo
boden,
a
meme
coin
inspired
by
Joe
Biden,
saw
a

brief
surge
during
the
same
period,
although
this
appeared
to
be
short-lived
as
the
token
is
still
down
3%
over
the
past
24
hours.

As
the
presumptive
Republican
nominee,
Trump’s
conviction
is
likely
to
have
a
significant
impact
on
the
2024
presidential
race.
While
his
supporters
may
view
the
verdict
as
politically
motivated,
others
may
question
his
fitness
for
office
given
his
criminal
record.