Good day everyone,
I hope you are all having a good day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at a new Trump token which is looking very suspicious with many red flags.
Trump Token
This new Trump Token is making promises to contribute to support Donald Trump's campaign, but the red flags are quite noticeable. The entire team is made up of members who are AI-generated while there is also no information available on the founders of the project. While the market is somewhat flooded with Trump tokens, and many of them being memes or jokes of the former president, this one is a clear project which should be avoided.
Available on the Solana blockchain, the token is known as The Trump Token. It seems like many of the others and portrays itself as a good deed project with 50% of the funds raised during a presale being donated to political groups that support Trump’s agenda. However, further investigation shows that the project has plenty of problems.
The team members are shown with images which are clearly AI generated. Now there is no issue with this for a project which adds a disclaimer that the project team wishes to remain anonymous, however this project is clearly trying to fool would-be investors into believing these are real team members.
The media group Cryptonews interviewed James Grundvig, a media ambassador for The Trump Token. He is known for being a freelance journalist who has previously shared unfounded COVID conspiracy theories. Among those theories were articles claiming Vincent van Gogh masterpiece is fake, which has since been debunked. He was unable to provide a surname for the team member he considered the main point of contact, Yar, and also noted he doesn’t interact with the political liaison Margaret. When the Cryptonews journalist showed James Grundvig the results of the AI image detector, which noted there was a 99% chance that the images of team members had been faked, Grundvig admitted they were mere avatars.
Grundvig went on to state:
“That’s their choice. They want to protect the anonymity of people until after the election, we are in a very politically hostile environment in the United States.”
While everyone can understand the reasoning behind that choice, it still begs to question why this information is not provided upfront. While the United States is divided between Trump and Harris, and not being drawn into the furore of the upcoming election is something most would like to do, why then create a project in this manner and portray the team members as being real? There is no need to undertake should measures and if protecting their identities is the aim then they could have used NFT style avatars instead. It also leads to the question, which was asked to Grundvig, how can these investors trust The Trump Token?
“Well, they’re going to have to just believe, like Trump does, that the founders are big-time Trump supporters… a lot of crypto experience, in the finance business, and our American patriots.”
Grundvig went on to say that the owners of The Trump Token are planning to identify themselves after the election result. One would have to question this even further, as it is likely to be an even more tense time after the election has taken place. He stressed that they are real people and they are merely being cautious. Grundvig stated:
“They’re going to let themselves be known. They’re not hiding. They’re just doing this temporarily for their own safety and security.”
When the journalist asked Grundvig if he would reveal their identities off the record, he was met with a firm no. This adds further suspicion to the project, as it would have helped to give some credibility. Investors are being asked to trust this brand new project mere weeks before the election while knowing next to nothing about who’s involved. Grundvig stated:
“It might seem dodgy but in the world of cryptocurrency, it’s not dodgy. I mean, do we know the owner of Bitfinex or Tether? Do you really know who they are?”
Below is a breakdown of the tokens allocation from the whitepaper. A total of 10 million tokens are expected to be sold during the presale, with more tokens set aside for the team, for exchange liquidity, and licensing among others.
The project has also compared itself with the likes of Tether and Bitcoin. As part of its whitepaper they promise decentralized governance, everyday purchases and DeFi integration. With a max supply of 21 million, the presale is looking to sell its 10 million token at $10 each. That would lead to a potential of $50 million being donated to supporting Trump’s campaign. However, with so little time left before the election it is likely Trump’s campaign would be over before any funds are even distributed.
Grundvig was asked whether The Trump Token came too late in the election cycle, to which he responded:
“Are we a little late? I’m not going to worry about that at this moment — we’ve got what we have and we’re running to the races.”
He went on to argue that the large amount of donations planned wouldn’t affect the value of The Trump Token either, with airdrops and rewards planned for early adopters. There is also a part of the whitepaper which notes a NFT would be distributed to the token holders 'when' Trump wins the election. The roadmap for the project is shown below.
Grundvig was asked what would happen if Trump fails to win the election against Kamala Harris, to which he responded:
“We’re very confident that’s not going to happen. How would that affect it long-term? Trump will not go away, as you’ve seen the last three-and-a-half years he’s not going away. It will still be viable, because his vision will continue to pound the American political system. He’s an outsider. He’s a maverick.”
Grundvig was quick to point out that donations are verified on the blockchain, meaning investors would be able to see where their funds end up going. However, that still would not stop the group failed to keep their word once the tokens have already been sold. Too many red flags are shown, with the AI-generated team members, no information on the founders, and the late in day launch of the project. There is also the glaring question of the long term future of the project. Once the election is completed it seems like investors will have nothing more than a worthless token and an NFT if Trump wins. With the Trump campaign already accepting crypto donations, that is likely the more effective way to make a contribution if one wishes. To end the interview, Grundvig gave the following message:
“I think people need to get involved. I think a lot of Americans do not know enough about cryptocurrency. But you know, Trump has a massive base of anywhere from 80 to 100 million people that support him, and support his movement. And so I think it’s an opportunity for them to learn.”
They could learn from this, but likely the only thing they would learn is how a crypto scam works.
Have a great day.
Peace. CryptoGod-1.
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