President Donald Trump, who has promised to make the United States the "crypto capital" of the world, has provided a barometer into his presidency through the offer of $TRUMP, his branded meme coin that is "not like any other meme coin," Newsmax "Wise Guys" host John Tabacco said Friday.
"When he comes out with a meme coin, it's not like any other meme coin," Tobacco said in an interview on Newsmax's "Newsline," adding that by Trump adding his name to the meme coin, he's indicating that "these types of things are good. And I think he's giving people an opportunity to tell him the age-old political question, how am I doing?"
Trump on Thursday night rewarded about 220 top investors in the $TRUMP meme coin cybercurrency project with a dinner that showed how the emerging financial industry is climbing.
Trump's dinner came ahead of next week's Bitcoin 2025 conference in Las Vegas, which has attracted several key speakers from the White House, including Vice President JD Vance; Crypto czar David Sacks; and Bo Hines, the executive director of the President's Council of Advisers on Digital Assets of the White House.
Tabacco said that it's Trump's backing of bitcoin technology that will make this year's conference better than any others.
"This will be better than any bitcoin conference ever because Donald Trump has told the regulators and the world, hey, we want to innovate in this area. So all the stars of cryptoland will be out at the conference. Hopefully, I'll be there," he said.
Meanwhile, Tabacco noted that Trump's dinner with the highest memecoin investors has come under a great deal of criticism, but "we do this stuff already."
"People pay higher and higher and higher prices to sit in the best seats in the stadium that get you to be on TV," he said. "It's called 'tokenomics.' If that's one of the tokenomics that, hey, once in a while, you may be able to get a private event with the president. That's how capitalism in the world is supposed to work. And I think it measures Trump day by day, idea by idea, tweet by tweet."
Tabacco's comments come after his Newsmax article this week explaining how $TRUMP is a measure of the president's success.
In the article, Tobacco explains how Trump "has not only embraced Bitcoin, he’s vowed to make America the crypto capital of the world."
"The launch of his meme coin isn't just a financial venture; it's the ultimate sentiment measure of Trump and his presidency," he wrote. "In this hyperactive news cycle, people are now engaging, expressing their sentiments in real time in many ways ... whether it's investing in his ventures like Trump Media (Truth Social), or collecting his memorabilia, or playing at his golf courses, people want to be associated with Donald Trump."
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