Just like you already laid out the question, was it really necessary for him to create his own token, no it wasn't, but what is the reason why he created the token? As a US President, I doubt if the reason why he created that token was to defraud people of their money just like so many altcoins will do. I strongly believe that he has his own reasons why the token was designed. I was wondering if it's to enrich himself or actually identify those that are fully into crypto, after which they will be identified and the amount of Bitcoin they own.
to be fair he also deployed a defi in the blockchain, i guess he will fully take advantage of the crypto hype as well, seeing from the example coming from VC making some random token that's worth billion in short time.
so since he has already getting into crypto, might as well shoot two bird with one stone.
but I wonder the legal implication with this, so far I've rarely seen a token sale from the U.S , we all know how strict they are with this kind of thing so most of project just avoid them.
even metamask and base blockchain don't release token because of this exact reason.