A meme coin named $TRUMP launched just before President Trump’s second term, sparking questions of legitimacy. ChatGPT explains $TRUMP is a cryptocurrency named after Trump but not run by him. It operates like other cryptos but is more volatile. Trump and his sons have distanced themselves from the coin, despite claims of involvement.

$TRUMP makes money through buying, selling, and transaction fees, like other cryptocurrencies. However, investing in meme coins like $TRUMP carries risks, including the potential for rug pulls where developers abandon the project, leaving investors with losses. Trump himself has not made any profits from $TRUMP.

The value of $TRUMP and other cryptocurrencies is tied to the global economy. Factors like inflation, interest rates, and government decisions impact prices. During economic uncertainty, people may sell off crypto assets, causing prices to drop. Stimulus checks during COVID-19 led to increased crypto investments, boosting prices significantly.

ChatGPT advises caution when investing in $TRUMP, emphasizing the risks involved. It’s essential to understand what you’re investing in, be prepared for price fluctuations, and not expect guaranteed returns. Consulting with a finance professional before making any investments in cryptocurrency, especially meme coins like $TRUMP, is recommended.

Read more at Nasdaq: I Asked ChatGPT To Explain TRUMP Crypto to Me Like I’m 12: Here’s What It Said