Almost 1 million consumers of the Official Trump (TRUMP 3.71%) meme coin are reportedly underwater on their funding, down by round $3.8 billion in complete, per blockchain analytics agency Nansen. In the meantime, President Donald Trump’s annual monetary disclosure listed $636 million in earnings from the identical coin in 2025. The token despatched a slice of each commerce again to the issuer, paying out whether or not the value rose or crashed.
Now, some within the Senate are attempting to shut that door by banning elected officers from launching meme coins. If it passes, would that imply meme cash are a factor of the previous?
Picture supply: Getty Pictures.
What the ban goals to do
On July 3, U.S. Sen. Kirsten Gillibrand, D-NY, renewed her push to bar members of Congress, the president, and their spouses from issuing or sponsoring digital property, just like the Trump meme coin, in addition to related property just like the Melania Meme coin. Gillibrand tied these necessities to the Readability Act, which is often known as the crypto market construction invoice.
Gillibrand’s proposal is an ethics provision she is attempting to negotiate into the Readability Act, and it is framed as a safeguard. She has mentioned officers might “get wealthy off of those industries due to their insider standing.” The availability can be meant to guard in opposition to enthusiastic followers shedding their shirts by shopping for a nugatory politician-branded coin.
The mania is not going wherever
Even when this suggestion turns into U.S. regulation, that does not imply meme cash will go away. The meme coin section is price $27.1 billion right now, down from its December 2024 peak of roughly $150 billion. Dogecoin, the king of the meme cash, is 90% under its 2021 excessive, and Shiba Inu, its youthful sibling, is down 95%. And traders should not purchase these cash, no matter whether or not there’s new laws that stops politicians from launching them.
On the similar time, there is not any motive to anticipate meme cash will cease being created, and each motive to anticipate that, as soon as in a whereas, a few of them will briefly be price billions.
The pool of traders prepared to gamble is functionally limitless. So is the pool of crypto builders prepared to present what these traders are in search of. And so, when crypto bear markets change into bull markets, world liquidity loosens, and threat urge for food is excessive, the meme coin blitzes will begin up once more. It is inevitable.
However shedding your cash on them will not be inevitable. By no means purchase a politician-linked meme coin, or some other meme coin. And deal with Dogecoin and its cousins as playing chips; their limitless provide and complete lack of utility or worth have by no means improved, they usually most likely by no means will.
