How can we ensure the safety and compliance of Trump and his wife’s successive coin issuances?

On the evening of January 17, local time, U.S. President-elect Trump announced the launch of a personal cryptocurrency, which caused a huge stir in the cryptocurrency market.

The price of the cryptocurrency, called Trump, has been soaring. According to CoinGeko data, the market value exceeded US$3 billion in just one hour after the coin was issued. It continued to rise the next day, and its fully diluted market value once exceeded US$80 billion. Based on Forbes ranking data, if the price of Trump coin rises to US$270, Trump will become the richest man in the world.

Subsequently, on the evening of the 19th local time, Melania Trump also issued her "First Lady Coin", and the market value soon exceeded 10 billion US dollars. As of press time, both currencies have fallen back a lot. .

Compliance disputes after currency issuance

With the price rising rapidly, Trump coin investors have reaped huge rewards from the rapid price increase. People constantly posted their profits on X, and countless millionaires were created overnight. David Sacks, Trump’s new cryptocurrency policy chief, said, “The reign of terror against cryptocurrencies is over, and the beginning of crypto innovation in the United States has just begun.”

At the same time, there are concerns that the connection of political power to the cryptocurrency market could have more serious consequences. Cryptocurrency executives are spending an unprecedented $130 million on the 2024 election campaign, raising questions about regulators controlling the industry. Moreover, the price of Trump coin fluctuated significantly within 48 hours after its launch and subsequently fell, which also confirmed the concerns of the industry.

Cryptocurrency venture capitalist Nick Tomaino said, "Trump owns 80% of Trump coins and launching the product just days before the inauguration is predatory and a lot of people may be harmed by it."

Critics also say Trumpcoin could be a dangerous way for special interests to try to buy the president's influence. Anthony Scaramucci, the former Trump White House communications director, said on

With the news that Trump and his wife released cryptocurrency, this incident not only attracted widespread attention from the market, but also triggered discussions about its security and compliance. Since the cryptocurrency market is still in a stage of continuous development, the relevant legal framework and regulatory policies are not yet fully clear. Therefore, how to ensure that these newly released tokens can be traded and operated within a legal and compliant framework is an urgent need. problem solved.

Beosin KYT has supported Trump currency query

In addition, there is another winner hidden under the hot trading of Trump coins, and that is Solana. Both Trump Coin and Melania Coin are released based on the Solana platform. As a high-performance public chain, the Solana ecosystem is growing continuously, and more and more funds are entering the Solana ecosystem to participate in various trading activities.

At present, the Beosin KYT system has fully supported the query function of Trump currency. This move not only enhances the transparency and security of digital currency transactions, but also provides users with more efficient anti-money laundering and compliance monitoring services. By monitoring the transaction flow of Trump coins in real time, Beosin KYT helps users ensure that trading activities comply with international financial regulations, reduce potential risks, and further promote the healthy development of the blockchain industry.

Add Trump currency to Beosin KYT

Beosin KYT conducts risk assessment of a certain phishing address based on Trump currency

Beosin KYT has updated the account design for Solana. Based on blockchain big data analysis technology and advanced AI technology, through billions of address labels and black address libraries, it can identify any suspicious transactions on the Solana chain and conduct comprehensive risk assessments. As well as identifying the risks of on-chain relationships, it helps exchanges and Solana ecological project parties build the capabilities of KYT and continuous address risk assessment.

write at the end

The successive releases of cryptocurrencies by Trump and his wife not only demonstrated the potential of the crypto market, but also aroused widespread concern and doubts. With the rapid reaction of the market, the prices of Trump coins and Melania coins soared, undoubtedly proving the huge appeal of cryptocurrency as an emerging investment asset. However, the security and compliance issues that come with it cannot be ignored. How to ensure that these tokens can be traded and operated within a legal framework and avoid illegal behavior or market manipulation has become the focus of the industry.

With the continuous development of the cryptocurrency market and the gradual improvement of relevant regulatory policies, ensuring the security and compliance of tokens will be an essential responsibility of every encryption project. The rapid development of cryptocurrency is inseparable from the dual guarantees of compliance and security. Only by ensuring security and compliance can we lay a solid foundation for the long-term development of the encryption market. With the gradual improvement of regulatory policies and the continuous innovation of technological means, the future cryptocurrency market will flourish in a healthier and orderly environment.