Finally, a low-cap cryptocurrency called TrumpCoin (TRUMP) has stirred up the Trump dynasty six years after it entered the market.
On Tuesday, Eric, the second son of Donald Trump, threatened legal action against Trump’s cryptocurrency over the alleged fraudulent use of his last name.
TRUMP is a cryptocurrency that was launched in the first quarter of 2016, when the campaign season for the 45th President of the United States began. It claims to be “a cryptocurrency created by patriots for patriots around the world.”
It appears that TrumpCoin has been anticipating lawsuits from the Trump family at one point. About 24 hours after Eric’s threat, TrumpCoin responded to the Twitter account by highlighting a disclaimer on the site acknowledging that TrumpCoin is in no way affiliated with the Trump family or any related assets.
TRUMP is currently trading at $0.28 with a 24-hour trading volume of $13,313, according to CoinGecko.
The Trump family is not new to the cryptocurrency industry. Melania Trump recently auctioned a hat she wore as the first lady. Paid at Solana (SOL). Earlier this year, Bitcoin (BTC) also congratulated its thirteenth anniversary.
On the other hand, Donald Trump does not have as high a reputation in the cryptocurrency space as his wife. Last October, he said that cryptocurrency poses a threat to the global dominance of the US dollar. He also said he hopes that digital currencies such as the Chinese digital yuan will not create insurmountable competition for the dollar.
TRUMP joins a short but growing list of crypto projects that have come under fire for name and trademark rights.
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The Lord of the Rings author J.R. Tolkien targeted a cryptocurrency called the JRR Token to use the author’s name. On November 23 last year, the cryptocurrency was forced to shutdown and remove all content infringing intellectual property rights.
Popular fast food restaurant Jack in the Box has also sued FTX for copyright infringement. The network claimed that FTX’s “Moonman” mascot copied Jack’s spell. The case was settled out of court last Friday.
Last August, Ripple Labs was sued in an Australian court for copying the name of an existing national payment service called PayID.
