In recent days, it was reported online that the son of former American president Biden has also issued a cryptocurrency.

When I saw this news, I immediately thought of the old story from January last year when Trump had issued a cryptocurrency—at that time, it was said that a team close to him launched the Trump token on Solana.

Many people believed that the team was trying to take advantage of his fame in the cryptocurrency space before Trump officially took office as president, aiming to profit while avoiding legal risks.

A president about to take office pulling such a move in the cryptocurrency space was unprecedented in both American politics and the crypto ecosystem.

This stunt was significant enough, and the operation strong enough.

Therefore, once the news of the cryptocurrency launch broke, it triggered a frenzy of enthusiasm within the crypto ecosystem. Many people showcased their achievements online, with some bragging that they discovered the token early, while others boasted of achieving returns of hundreds of times.

The hype surrounding Trump coins quickly overshadowed the then-popular AI + Crypto ecosystem, becoming the primary target pursued by funds and retail investors.

Given the obvious and rapid profit effect of Trump, the First Lady also took the opportunity to launch her token "Melania," smartly timing it right before Trump officially took office.

Although the profit effect of Melania was not as strong as that of Trump, the wealth effect seemed quite impressive.

I estimate that this effect was something the team behind it did not anticipate; otherwise, they would have planned to issue Trump and Melania tokens earlier, or even launched various tokens for the president's son and daughter to offer all the gambling enthusiasts and followers a full “family bucket” package.

I remember many players discussing Trump coins online at that time, and they were quite optimistic about its follow-up trends and potential, with convincing reasons:

• The currency issued by the president of the world's most powerful country

• The most cryptocurrency-friendly president leading the way with a token

• It was rumored that there would be subsequent operations to continue empowering the Trump token

Therefore, this token monopolized considerable attention and discussion in the cryptocurrency ecosystem for quite a while.

During his more than a year in office, regardless of how Trump performed in other areas, when it came to promoting the development of the cryptocurrency ecosystem, Trump did indeed implement many measures and worked hard to push America's crypto ecosystem to the forefront globally. Although some key bills were stuck in the Senate, that was partly due to the effects of partisan disputes, he has been making efforts to fulfill his electoral promises in this regard.

However, returning to the trajectory of the Trump token, it tells a different story.

All of Trump's considerable contributions to the cryptocurrency ecosystem did not translate into the narrative or potential of the Trump token, nor did they further boost the token's price.

The price of Trump tokens has fallen from over 40 dollars to less than 2 dollars as of the time of writing.

There's hardly any discussion about Trump online anymore.

Even among meme coins, its popularity has plummeted to almost negligible levels.

Meme coins like Trump can be considered top-tier in various aspects, but they cannot withstand the test of time.

So users participating in this game must understand from the start that they are gambling, betting on their intelligence over the market, betting that they are smarter than others.

Additionally, I believe participants in these games over the years should have developed some standards for selection; one cannot just assume that when a “celebrity” comes in to issue a coin, that celebrity’s “fame” is worthy of hype? That fools who are even less savvy than themselves will come in to pick it up?

Earlier, Trump launched a coin, and the results were thus.

If later political celebrities want to issue a coin, they at least have to be a president, right?

Biden’s son isn’t even a president; he’s just the disappointing son of a former president.

Are there people in the crypto ecosystem that consider such a person a “celebrity”?

Are there even people who pursue coins issued by such individuals?

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