<\/p>\n
Crypto billionaire Mike Novogratz isn\u2019t a fan of the controversial Trump memecoin.<\/p>\n
While speaking at Bitcoin Investor Week on Monday, Novogratz argued<\/a> that the Trump Administration is \u201ccategorically good\u201d for the crypto sector.<\/p>\n However, he also bemoaned the impact of Official Trump (TRUMP<\/a>), which launched in January, days before Donald Trump\u2019s presidential inauguration.<\/p>\n \u201cSometimes you got to take the good with the bad. I was at the Vice President\u2019s Ball and the Crypto Ball first, so you saw lots of the crypto Illuminati. And I mean it was a turd in the punchbowl as soon as that thing got launched. Everyone looked at themselves and was like, \u2018Oh that just didn\u2019t happen.\u2019 The group collectively and many people in this room have worked so hard over the last eight years to finally get across the finish line, and that made it feel a little foolish.\u201d\u00a0<\/em><\/p>\n TRUMP is trading at $10.81 at time of writing and is more than 85% down from its all-time high of $73.43, which it set on January 19th, two days after launching.<\/p>\n Novogratz isn\u2019t the only big name in the crypto space to question the wisdom of the Trump memecoin: Ethereum (ETH<\/a>) founder Vitalik Buterin argued<\/a> in January that political coins represented \u201cvehicles for unlimited political bribery.\u201d<\/p>\n