Steve Forbes on Fox Calls Out Trump for Cashing in On Meme Coin

Steve Forbes, editor-in-chief of Forbes magazine, called out President-elect Donald Trump for cashing in on a meme coin just days before taking office.

Trump launched the $TRUMP coin days before his inauguration on Friday in a venture that reportedly saw his net worth skyrocket by $58 billion by Sunday morning, enough to make him one of the world’s 25 richest people.

As Capitol Hill rotunda filled up ahead of the inauguration ceremony on Monday, Fox Business host Stuart Varney asked Forbes what he thought of the “ethics” of the project.

Forbes response was blunt.

I wish he wouldn’t do that and doesn’t have to do that in terms of the future. He’s got a lot to do with the whole Bitcoin, crypto coin thing anyway. So I wish he’d… he doesn’t need to do it.

In terms of currency, rising and real alternatives in the next few years to the U.S. Dollar and paper money from other governments, you’re going to see a real reaction from the empire of the federal reserve and other central banks and fighting that ferociously and the whole reason Bitcoin rose up.

Ethics watchdogs are up in arms about the launch of the coin right before he begins his second term as president.

Watch via Fox Business.