Donald Trump advisor Roger Stone endorses $TRUMP memecoin

Roger Stone, a former Donald Trump campaign adviser and self-described ‘Trump Loyalist’ who was previously convicted of felony counts of witness tampering, obstructing an official proceeding, and making false statements to Congress, has now endorsed the $TRUMP memecoin.

In a tweet announcing the partnership, Stone claimed that the coin was “the largest holding in Donald Trump’s crypto wallet.” 

The vast majority of tokens that seemed to arrive in Trump’s wallet, as identified by Arkham Intelligence, appear to have been deposited by an Ethereum address that resolves to the Ethereum Name Service (ENS) name of magafund.eth. This address received a massive amount of this token directly from the deployer shortly before transferring it to Trump.

‘MAGA Memecoin,’ the group behind the token, claims on its X (formerly Twitter) account that there are “NO AIRDROPS.” Despite this claim, Trump’s wallet also received a significant portion of its tokens directly from the deployer about two months after the large transaction from ‘magafund.eth.’ 

‘MAGA Memecoin’ disclosed in an email to Protos that “$TRUMP Tokens were sent to his public wallet address he did not buy them, many other memecoins have done the same thing” and further claimed that this does not constitute an airdrop because they believe “an airdrop is sending crypto to a group of wallet addresses.”

This means that ‘MAGA Memecoin’ wants to make it clear that it will not send free crypto to a group of wallet addresses, but they will send free crypto a single wallet address, an address associated with someone who was found to have committed financial fraud.

It’s also worth noting that despite sending these tokens to Trump, using Trump’s likeness, using Trump’s name, and having the endorsement of his adviser, this coin makes sure to claim that it “is not affiliated with or endorsed by Donald J. Trump.”

Read more: INVESTIGATION: Indicted Republicans and a dead Belarusian — what happened to Organic Fresh Coin?

This is far from Trump’s first brush with the crypto industry. Indeed, he’s previously launched NFT collections to raise money, and Melania Trump, the former First Lady, has her own NFT collection, which received accusations of wash-trading.

Stone has also previously been dragged into the industry with Florida tax collector Joel Greenberg reportedly offering him approximately $250,000 in bitcoin if Stone could help him negotiate a pardon.

Greenberg’s friends and associates were also involved in a complex international crypto scheme involving a manipulated Initial Coin Offering and the Honorary Consul of Belarus to the Florida Consulate.

Stone has also endorsed other less than wholly serious crypto projects, including reportedly advising Common Cents Coin, which was ‘an exclusive community for conservatives.’ The website for this coin no longer exists.

Update April 19th, 13:52 UTC: Added comment from ‘MAGA Memecoin.’

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