President-elect Trump launched his own cryptocurrency overnight and swiftly appeared to make more than $25 billion on paper for himself and his companies.
Why it matters: The stunning launch of $TRUMP caught the entire industry off-guard, and speaks to both his personal influence and the ascendancy of cryptocurrency in his administration.
- It also speaks to the nature of the crypto industry that someone could have $25 billion worth of something that literally did not exist 24 hours previously.
What a world we live in
The fact that fartcoins are 30 times as “valuable” as Trumps idiot-coins should be evidence enough.
Isnt this showing the exact opposite? Fart coin is less valuable?
To be fair the valuability of a coin is not that much related to its popularity, but to its difficulty of obtention through proof-of-work (of proof of stake)
They are only worth what
peopleidiots pay for it.It’s money laundering
Meanwhile, back in reality:
The venture was co-ordinated by CIC Digital LLC - an affiliate of the Trump Organization - which has previously sold Trump-branded shoes and fragrances.
Meme coins are used to build popularity for a viral internet trend or movement, but they lack intrinsic value and are extremely volatile investments.
https://www.bbc.com/news/articles/c9vmym2jvy9o.amp
Just because you SAY something is “worth hundreds of billions” does not mean it is actually WORTH hundreds of billions.
Yes. Just seeing the words “market cap” should tell you something. It is a completely meaningless term when you are talking about crypto currency.
The price means somethings, the amount held means something. The entity that sold them can mean something. But market cap isn’t it.
Isn’t that a conflict of interest?
Who’s going to stop him?
His whole political career has been a conflict of interest.
Trump holds 80% of the supply. This is going to be the biggest rug pull of all time. Americans are literally getting shitcoin scammed by their own presidents holy shit what a timeline.
can I short this?
And these “coins” are actually tokens. Not only are they not backed by any real assets (venture capital, real estate, etc), the damn things don’t even exist in reality!
Honestly, I won’t forgive Biden for just smiling in response to Trump winning after not leaving 4 years sooner. Before anyone asks, I voted for Harris, so don’t shove that narrative down my throat.
The tankies are getting REAL close to just outright admitting they wanted Trump, so there’s that.
Best trash takes itself out is how I see it. Glad they make it so easy to spot with red merch.
Honestly, it’s kinda impressive that this scheme still works in 2025. How low can people go, I wonder.
Just means more rugs need to be pulled until idiots have no more money to waste.
Fresh idiots are being born every day, unfortunately
Calls on rugs!
America will have a law about this probably by 2070, after many more generations of Americans lose money to those scams and the legislative finally has people who understand technology to write laws about this
This is money from foreign governments and corporations buying influence. It has nothing to do with “Americans”.
There are plenty of Americans that will buy this coin and lose money.
I’m sure there’s still a plenty of idiots buying these.
Yes, to the tune of 10s or maybe a couple 100s of millions of dollars. But now Saudi Arabia can come in and buy a billion worth of the coin as a direct donation to trump with zero oversight. This is open corruption on a scale we simply haven’t seen before.
No doubt. Just saying it’s gonna be a rag pull towards the idiots in addition to all the corruption.
Holy shit, inb4 he pumps and dumps and avoids jail cause of presidential immunity
Is that even illegal yet?
Nothing is illegal for a POTUS. He cannot be charged with any crime while in office, running for office, considering to run for office, and/or dreaming of being in office.
Pump and dump schemes? Yes, according to earlier incarcerations
For stocks, yes, but crypto is basically unregulated as far as I know.
$25 billion, in paper. The value will be down to zero way before he manages to sell off even $1 billion from it. And thats a generous guess. Meme coins don’t retain value.
Making ANY money this way is outrageous, but we sooner solve world peace and world hunger than Trump being able to sell this off for the current paper value.
Yeah I feel as though he won’t get that amount of money either and making any money is also outrageous.
I feel like the biggest pressing issue here is that this is not meant to go to the moon and stay there. Instead I think the real motive is to make inflation. Look at it, it’s not meant to gain that amount of value, it’s meant to skew our perception of value. This way the current inflationary prices don’t look out of place when, in reality, everything is over valued. I guess it is also meant to make some people more complacent to inflation by giving them hope of “there being a chance” even though it clearly details how screwed over most of them will end up in the end compared to the house/dealer. Gambling is and will always be a big problem that adds more pressure to an otherwise unhealthy economy.
Dear god, please let donald trump choke on a piece of potato and die. Amen 🙏
Really sucks that I, an atheist, acknowledge that I can do nothing more impactful than pray Trump dies soon.
Luigi disagrees.
Also, it’s a bummer that there’s no eternal punishment waiting for him.
We should have seen that coming.
There is a lot more of this coming.
Trump intends to leverage his office to make his family wealthier.
It’s easy to think that crypto is over. The NFT bubble is so deflated. We’ve seen big companies like FTX bomb the hell out. I mean, the signs are obvious now, aren’t they? Crypto was, conclusively, proven to be the scam everyone said it would be and we don’t need any more proof, right?
And then we hear Trump administration is really into this crypto nonsense.
Somehow.
Guess they didn’t get the memo.
Brace yourself for 4 years of spectacular, glorious fail.
And if someone says stuff like “oh, Trump just got filthy rich off of the meme coin he launched yesterday”, let’s wait and see how the coin does at the end of his administration.
Bitcoin is sitting at 105,000 each. Businesses have bought in, banks have bought in. A whole country buys them like clockwork for their citizens future.
Its a damn ponzi scheme where the last to hold the bag is the loser. Yet it is so big now, so entrenched, I dare say it may be too big (to be allowed) to fail.
Insane. And the worst part is, nobody actually uses them. Not in any significant way. It’s just let’s get rich!
Or in 6 months
I hope everyone is acutely aware that you, me, WE are not in a class war.
WE HAVE LOST A CLASS WAR.
What happens now?
Now we wait til it gets so bad people stop going to work, in unity.
Fools always find their kind
All the wrong people got money.
QE was a method of upward distribution of wealth.
What is QE?
Quantative Easing
Trump launches
meme coinmoney laundering scheme, apparentlymakeslaunders more than $25 billion overnightFtfy
Bingo, the CCP can’t bribe Trump directly but they can buy a ton of crypto.
This is so fucking stupid. Everything. I feel like we’re living in a fucking clown show.
Think of it this way I can’t bribe Trump but if I bought 20% of this shitcoin I might be able to get his ear.
The amazing real circus
Can’t decide if I’m annoyed that this poorly-disguised influence scheme will go unpunished, or if thrilled that many very deserving people will be separated from their money.
Why would you be happy about their money going to even less deserving people?..
if you felicificly calculate it it works out
