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.
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.
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.
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”.
Holy shit, inb4 he pumps and dumps and avoids jail cause of presidential immunity
Is that even illegal yet?
Pump and dump schemes? Yes, according to earlier incarcerations
Having an ETF doesn’t make you real. Being Bitcoin makes you real.
I wish there was a better metric at the moment, but there isn’t.
$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.
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.
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.
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?
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
lol crypto is worth jack shit. I can just keep sending the same money to myself and it would cause the price to go up…
This isn’t your everyday crypto scheme.
This is foreign bribes being laundered.
That’s not how markets work…
it’s how crypto markets do. Since anonymity is a feature, any transactions will increase its value due to it being “used” more
Fuck, I just looked at this yesterday and thought why not put a few monies in. And then went to sleep without doing anything.
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?..
While I agree with the sentiment here, the market cap of the coin is currently at 7.6B according to https://coinmarketcap.com/currencies/official-trump/
Anyone know why there’s such a big discrepancy here? Maybe I’m misread?
Circulating vs total supply?
That’s how they got the number but it’s a big mistake to use total supply. Also it’s not because the market cap is 12G that Trump received 12G. It’s probably much much lower. He must have made only 50 to 100M in fees, if any. And the price he sold the coins at was much much lower than today
He might rename USA to Trumpistan 🤣
