1w ago

More Than 800K Have Lost $2B on Trump’s Meme Coin

The token’s price has crashed from $75 to $17.

1w ago

More than 800K have lost $2B on Trump’s meme coin

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72 comments

Its fucken poetic that his presidency launched with a shit coin he used to rugpull almost a million people. Fucking idiotic ass timeline.
- Remember the last time he rug pulled a million people? It was during COVID and the rug was their lives. While other countries saw a fraction of the death relative to populations.
- I don't think it could be any more American

It's not a pump-n-dump this time. In my opinion, it's a laundered bribe. The 800k victims were an unintended benefit.
- Definitely this was a way for offshore third parties to give Trump money. Gotta say this is my least favourite use of crypto, but it is also the most valuable use case (for corrupt politicians).
- It can easily be both.
  
  The pump would be the bribe and the dump is them cashing out. Same thing with a bunch of suckers floating the value.

A fool and his money are easily parted.
- And yet somehow Elon and Trump are super rich.
  
  When you have that much money and power, the only people that fail are the ones at the bottom of your trash heap built on the lies that brought you riches.
- “It's easier to fool people than to convince them that they have been fooled.” - Mark Twain

I remember hearing about some dude putting his grandfather's inheritance on this poopcoin. Wonder how he's doing
- Wife divorced him over it, IIRC
- Maybe his grandfather will pass before he needs it.

Oh no. The thing everyone said would happen has happened.
Btw, only idiots put money in that currency thinking it was an investment. The true purpose of that currency was to disguise bribes.

Was never anything more than a way to scam some money and make it harder to track/tax.

2 billion dollars / 800,000 people gives an average of 2,500 dollars per person. I'm going to venture a guess based on vibes that this was a more or less normal distribution and the median loss is close to the average loss. That's not YUGE per person, but it would still chap my ass real good.
- I imagine a lot of this is coming off the back of individuals/corporations/nations seeking influence over Trump; especially when you consider that something like 80-90% of initial tokens were owned by Trump and insiders.
  A couple hundred million dollars is a small amount to pay for the leverage it could provide. I honestly think a large number of the biggest bagholders would be linked to the Saudi’s and Musk.

I'm positive that the vast majority of these "people" are bots run by foreign governments. He launched this meme in 3 days before his inauguration, what else are we supposed to think. That $2 billion is mostly bribes with a f ew trumpets thrown in.

It is almost like the Orange Turd is a con man. Who could have seen this coming!

Finally a news story about American politics that is actually news and I want to hear about.

Hmm now I feel bad for not shorting it, after having thought about it initially...

Looking at the comments, it seems that the important thing is that those more than 800,000 are idiots, and it is obvious that they are, but I think it is more important that the current president has scammed with all the shamelessness and without any concealment to its own citizens. I'll leave it up to everyone to reflect on what that means for a supposed democracy.