What the heck is a ME-ME coin?
We all know the left can’t meme, but I thought they could at least say the word.
During a House Financial Services Committee hearing Tuesday, Rep. Maxine Waters (D-CA) criticized Donald Trump’s foray into cryptocurrency.
Waters argued the $Trump “ME-ME” coin, released in January before he was sworn into office, swindled many investors. The meme coin itself, has no inherent value, but fluctuates in price as people buy and sell the coin.
Waters used her argument against the $Trump coin to demand more regulation for cryptocurrency.
“Reports show that a far larger number of investors lost more than $2 billion after the ME-ME coin crashed. Meanwhile, a Republican led SEC has conveniently stated that ME-ME coins are not subject to their regulatory oversight,” Waters said.
I don't about you, but I do worry about those wanting to craft new laws and regulations - but don’t seem to even know what the heck it is they want to regulate.
RELATED: Maxine Waters Confronts Education Dept Staffer; Sparks Social Media ...
Decrypto reports the $Trump coin is in a downward dip, not unusual for crypto at this time.
"The token’s slide coincides with larger drawdowns for leading indices in traditional financial markets and the top crypto assets like Bitcoin and Ethereum, which are each down more than 8% over the last week," Decrypto reports.