Personalities including President Donald Trump have launched their own meme coins, but they pose risks for investors aiming to get rich quick.

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Meme coins are popular these days with everyone from c-list celebrities to President Trump. Planet Money has the story of how they went from a one-off joke to a speculative frenzy worth billions.

His bill would also allow lawsuits from crypto speculators who lose money by investing in a meme coin sponsored by a public official. Some 800,000 retail investors lost at least $2 billion when early ...