Scott Galloway criticized President Trump and Melania Trump's recently launched crypto coins during a podcast, highlighting concerns around credibility and investor protection. He discussed the new SEC crypto task force aimed at creating a regulatory framework but expressed skepticism regarding its effectiveness and composition. Galloway pointed out the massive profit skew, where insiders saw 7,000 percent gains while ordinary investors suffered losses, particularly with Melania coin plummeting by 67 percent in just days. He stressed the need for trust and fair play in the asset class for it to maintain value.
The person whose idea this is, who's assembling it and has total influence over it... has introduced two coins under the cover of darkness, letting a few people that he knows get a 7,000 percent gain and then seeing ordinary investors absolutely take a bath.
What do you want in an asset class? You want credibility, you want people to trust it, you want the rule of fair play, you want it to be a store of value or have utility.
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