Peter Schiff calls Trump memecoins legal bribes as Trump defends billions in crypto profits
Critic Peter Schiff renewed his attack on cryptocurrency, saying Donald Trump’s memecoins—TRUMP and MELANIA—operate more like “legal bribes” than legitimate investments. Schiff argued that buyers were primarily seeking access or attention rather than durable value [1] [2].
Meanwhile, Trump defended his family’s crypto-related earnings in recent comments, insisting there was “nothing illegal” and “nothing wrong” with the businesses generating billions while he is in office. The remarks followed fresh federal disclosures detailing the scale of his digital-asset holdings and crypto income, according to reporting [3] [4].
Schiff characterized Trump-linked tokens as attention-seeking mechanisms, while Trump responded to disclosures by defending his crypto profits as lawful [1].
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Citations
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- 1Anti-crypto activist Peter Schiff harshly criticizes Donald Trump’s memecoins! Here are the detailsBitcoin Sistemi• Jul 3, 2026
- 2Trump Meme Coins Turned Buyer Losses Into ‘Legal Bribes,’ Peter Schiff SaysYellow• Jul 3, 2026
- 3Donald Trump Defends $1.2B Crypto Earnings: ‘Nothing Illegal, Nothing Wrong’CryptoPotato• Jul 3, 2026
- 4‘Nothing Illegal, Nothing Wrong’: Trump Defends $1.4 Billion Crypto Profits From 2025Bitcoin.com News• Jul 3, 2026
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