Trump encounters pushback on crypto front, Solana meme tokens get criticized - $33M Solaxy presale on the rise amidst backlash
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Amidst growing scrutiny over Donald Trump's Solana meme coins and broader concerns about his crypto ventures, the Solaxy presale is gaining ground. With Trump's crypto endeavors, such as World Liberty Financial and USD1, causing alarm among lawmakers due to potential conflicts of interest, the spotlight is squarely on TRUMP and MELANIA, Solana-based tokens launched earlier this year by Trump and his first lady.
The controversy intensified following Trump's announcement of a May 22 gala dinner for top TRUMP coin holders—a move that Senator Elizabeth Warren described as "shady" and Senator Jon Ossoff deemed an "impeachable offense". Lawmakers argue that these events offer elite political access in exchange for crypto investments.
Tensions spiked as House Democrats prepared to walk out of a joint congressional hearing today on crypto legislation, protesting the Trump family's involvement in crypto businesses.
Could Solaxy Capitalize on the Trump Meme Coin Controversy?
With attention on Trump's meme coins growing, Solaxy (SOLX)—a high-performing layer-2 project targeting Solana's efficiency—might be the key beneficiary. Despite TRUMP's surge after the gala for top holders was announced, the meme coin is down 86% from its all-time high, whereas Melania has plummeted 97%.
Investors might be drawn to Solaxy due to its less controversial nature and practical utility, which sets it apart from more speculative coins like TRUMP and MELANIA. Solaxy processes and bundles transactions off the Solana mainnet, then relies on the mainnet for final validation. This could potentially boost the network's efficiency, aiming for 10,000 transactions per second.
An analysis from popular YouTube channel 99Bitcoins anticipates SOLX could increase 100X post-launch.
Check out Solaxy to learn more!
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- The intensified scrutiny surrounding Donald Trump's Solana meme coins, such as USD1 and Solaxy, has led to a growing interest in Solaxy, a high-performing layer-2 project on Solana.
- Solaxy, with its practical utility and less controversial stance, might attract investors seeking alternatives to more speculative coins like TRUMP and MELANIA.
- In the midst of this controversy, Solaxy, represented by the SOLX token, aims to boost Solana's efficiency by processing and bundling transactions off the mainnet, potentially increasing transaction speed to 10,000 per second.
- As attention on the Trump meme coins grows, related discussions can be found on social-media platforms, where general-news outlets, lawmakers, and finance experts alike are actively debating the potential implications for politics, entertainment, and investing.
- With Solaxy's possible 100X increase post-launch predicted by popular YouTube channel 99Bitcoins, it may prove to be a valuable addition for those interested in crypto finance and technology.
- To stay informed about the latest developments in this controversy and crypto news in general, join our Telegram channel for updates and insightful discussion.
