Mark Hays is the Associate Director for Cryptocurrency and Financial Technology at Demand Progress Education Fund and Americans for Financial Reform Education Fund.
Just before taking office, Donald Trump and his family started a new cryptocurrency called $TRUMP. This coin quickly became popular, and its price went up a lot. Many people think that Trump’s family is now much richer because of this coin. Even Melania Trump has created her own coin. However, Ivanka Trump warned people about a fake coin using her name.
Meme coins, like $TRUMP, are based on jokes and do not have real value. They often lose their worth very quickly. Many people see meme coins as scams. Buyers of $TRUMP cannot sue if they lose money; they must go to arbitration instead.
Today’s crypto world is risky. If the government does not protect investors, many people may lose their money. The story of $TRUMP shows how the rich can take advantage of others.
Vocabulary List:
- Cryptocurrency /krɪptoʊˈkʌrənsi/ (noun): A digital currency that uses cryptography for security and operates independently of a central bank.
- Arbitration /ˌɑːr.bɪˈtreɪ.ʃən/ (noun): The process of settling a dispute outside the courts by appointing a neutral third party.
- Meme /miːm/ (noun): A humorous image video or text that is copied and spread rapidly by internet users.
- Value /ˈvæljuː/ (noun): The importance worth or usefulness of something.
- Scam /skæm/ (noun): A fraudulent scheme or activity intended to deceive for financial gain.
- Advantage /ədˈvæn.tɪdʒ/ (noun): A condition or circumstance that puts one in a favorable or superior position.
How much do you know?
Who is the Associate Director for Cryptocurrency and Financial Technology at Demand Progress Education Fund and Americans for Financial Reform Education Fund?
What is the name of the new cryptocurrency started by Donald Trump and his family?
What did Ivanka Trump warn people about?
What is the perception of meme coins like $TRUMP according to many people?
What must buyers of $TRUMP do if they lose money?
What risk does the crypto world pose according to the text?
Mark Hays is the Director for Cryptocurrency and Financial Technology at Demand Progress Education Fund.
The $TRUMP coin is considered to be a valuable long-term investment.
Melania Trump created her own cryptocurrency named after her.
Investors in can take legal action if they suffer losses.
The story of $TRUMP exemplifies ethical behavior within the cryptocurrency market.
Government regulations in the crypto world are considered unnecessary by many.
Mark Hays is the Associate Director for Cryptocurrency and Financial Technology at Demand Progress Education Fund and Americans for Financial Reform Education Fund.
Just before taking office, Donald Trump and his family started a new cryptocurrency called $ .
Melania Trump has created her own coin named _________.
Melania Trump has created her own coin named .
Buyers of $TRUMP cannot if they lose money; they must go to arbitration instead.
The story of $TRUMP shows how the rich can take advantage of .
The of meme coins is often questioned due to their volatile nature.
