Just before Trump began his second administration in January, he and his business partners launched the $TRUMP coin. It's a meme coin that quickly raked in hundreds of millions of dollars. And there's a lot of earning potential still left on the table. Is any of this legal? Today on the show, we examine how the $TRUMP coin works and talk to an expert about how the president's meme coin gambit interacts with the Foreign Emoluments Clause of the Constitution. Related episodes: <a href="https://www.npr.org/2025/02/10/1230610862/crypto-peanut-the-squirrel-became-memecoin">How the memecoin game is played</a> <a href="https://www.npr.org/2025/04/16/1245044457/did-trump-enable-insider-trading">Did Trump enable insider trading?</a> For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at <a href="http://plus.npr.org/">plus.npr.org</a>. Fact-checking by <a href="https://www.npr.org/people/g-s1-26724/sierra-juarez">Sierra Juarez</a>. Music by <a href="https://dropelectric.bandcamp.com/">Drop Electric</a>. Find us: <a href="https://www.tiktok.com/@planetmoney">TikTok</a>, <a href="https://www.instagram.com/planetmoney/">Instagram</a>, <a href="https://www.facebook.com/planetmoney">Facebook</a>, <a href="https://www.npr.org/newsletter/money">Newsletter</a>. Learn more about sponsor message choices: <a href="https://podcastchoices.com/adchoices">podcastchoices.com/adchoices</a> <a href="https://www.npr.org/about-npr/179878450/privacy-policy">NPR Privacy Policy</a>

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