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.
I suppose that’s more streamlined method of bribery than buying property in his towers or booking his hotels.
Or buying ads on his wife’s radio station as apparently was how you’d get in front of President Johnson.
Hmmm that’s interesting. I wish I knew more about the crimes of all the presidents. I feel like if they were talked about more it would really bring down some of the power that people want to give to that office. Instead they make them out to be like gods after they are dead long enough
It’s funny (sad funny not hot haha funny) because we had a whole ass apology tour to the rest of the world because of getting caught having the Bush administration sign off on torture, up to and including lawyers and psychologists to support the theory that it was just “enhanced interrogation.”
Those are war crimes my dude. Bush should have been sent to the Hague. Honestly, what Bush, Cheney and Co. did was so much worse, devastating to the world, violent, and murderous than anything Trump has done yet. Honestly, you could argue that they ruined US reputation so bad internally and externally that they set the stage for Trump to take over. Trump won the year Jeb Bush was supposed to be coronated just like Hillary Clinton. They also are part of the current crises with immigration and rising right-wing sentiment in Europe since the war displaced so many. Bush deeply fucked up the planet and Europe and the Middle East especially.
In fact, Trump will do one thing previous Presidents haven’t done, he will make his own citizens suffer most of the pain instead of foreigners. That’s evidenced by how he considers many citizens to be foreigners already due to things like birthright citizenship. They’ve come out and said that explicitly. I guarantee he will be the first US President to cause more suffering to his own citizens than foreign citizens. He literally is gleeful at things like the Death Penalty, he wants to be the one pulling the switch. He’s really not all that different from Matt Berry’s character on Snuff Box who is a royal executioner who loves his job.
Anyway, we never did anything about actual well documented capital-W War Crimes, and instead have a “Hague Invasion Act” so if anyone from the US gets dragged to the Hague we’ll invade it to get them back. Like holy shit, I had my “Are we the baddies?” moment 24 fucking years ago.
I guarantee he will be the first US President to cause more suffering to his own citizens than foreign citizens.
It’s not beyond the realm of possibility that he could accidentally start a war somewhere in the world. Or make an existing one much worse than it already is.
100% this. 25 billions? That’s quite some money but nothing regarding the sell out that will happen the next 4 years. The USA will be slaughtered on a global scale, strictly orchestrated by its own rules of unrestricted capitalism. The last feast before the climate wars.
They aren’t buying cryptocurrency - they’re buying influence. The cryptocurrency is just a front.
The grift is so transparent it’s scary that so many people can’t/won’t see it.
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.
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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.
Of all the things crypto would bring us, I would never have imagined it would create transparency and democratization in corruption. What a time to be alive!
can I short this?
You can short anything if you find a lender
Not that I’m aware of.
You used yo be able to do it on sketchy unregulated Chineseesque trading sites. Been a while since I used one and they go down semi regularly.
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!
It’s somehow even worse than NFTs
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.
The defo do. Trump wants to hand Ukraine to Putin on a silver platter, the tankies have been salivating for that for years now
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
Trump bout to Hawk Tuah! on the American people and maybe the world.
Pump and dump
My dyslexia initially read that as “plump and dumb” which is also accurate.
This is going to be a historic pump and dump.
Fools always find their kind
He might rename USA to Trumpistan 🤣
They are only worth what
peopleidiots pay for it.It’s money laundering
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.
Old Man stock market looks up and chuckles “That’s my boy…line go up.”
If you previously weren’t convinced crypto is a scammers paradise, this should convince you.
EDIT: removed not nice comment.
Meme coins are a scam, yes. Coins with ETFs are legit. Buy BTC and stake ETH; ignore the rest.
We literally have (what I think is) a scam instance with a bunch of accounts made in the same day that’s been online in the fedi for about 20 days now @realbitcoin.cash. Why is there a fedi instance seemingly making fake accounts to pump bitcoincash? Doesn’t Bitcoincash have an ETF?
Why were all the accounts made on the same day if this is organic and not an admin making a bunch of accounts?
Sorry man, this kind of stuff doesn’t pass my personal sniff test (you do you), and the fact that it’s already here doesn’t make me go “gosh this isn’t a scam at all.”
Staking is a system where rich people get money for owning money. Sounds like a scam
Trump previously sold Trump-branded steak. Is steak a “scammer’s paradise”?
Steak has a legitimate use.
So do cryptocurrencies. Maybe not for you, personally, but other people have legitimate uses for them.
Name one (1) legitimate use case that is not better served in another way
You’re going to use that “is not better served in another way” clause to wiggle out of anything I might suggest, but okay.
The Ethereum Name System is a permissionless and fully decentralized version of the Domain Name System. Lacking central servers and control means it can’t suffer outages like DNS does.
a permissionless and fully decentralized version of the Domain Name System. Lacking central servers and control means it can’t suffer outages like DNS does.
Oh nice no more regular outages like checks notes visa that one time 7 years ago for 40 minutes
Sounds like an overly complicated and resource intensive way to have failover servers to me, and I’m usually pro-decentralization.
I don’t experience DNS interruptions when I’m running multiple failovers.
As predicted.
Private online (or maybe even offline) payments with Monero. And even if it’s not monero, you don’t have to deal with the BS of banks, such as the transactions taking days to complete. And nothing is tied to your real identity, making you entirely anonymous.
The reason that bank transactions take days to finalize is because of regulatory compliance. The actual money can be moved in seconds.
I don’t know if you can reasonably cite “bypassing regulatory compliance” as a “legitimate” use case for something.
I live in the UK. Here, and in most of the EU, electronic fund transfers clear in a few seconds. They reason they don’t in the US is because the banking oligopoly has retained an archaic clearing system. The regulatory compliance checks in the UK are still there, the US system is just slow. It still runs in batch mode on coal-powered mainframes.
Anonymous online payment is cool and all right up until you fill out your address so they can bring whatever you paid for to your house.
That’s fair, but I was talking about online payments for digital goods, such as VPSes, vpns, donations, etc.
Also, let’s say irl stores adopted cryptocurrency as a payment method. Your bank wouldn’t know what you’re buying and therefore wouldn’t be able to sell that information.
Bitcoin is the most secure banking method.
Though blockchain tech produces new problems that ultimately make it useless outside of a store of value.
Such as grifting idiots with promises of fortune and glory.
You think that’s a legitimate use? That’s exactly what Trump is using it for here.
Ooof buddy. Ooof.
Laundering money and buying drugs.
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I don’t know what you said, but I support it.
Same. I stand with [removed by moderator]
The legitimate uae of crypto currencies is to untraceably send money to criminals.
Only if you pre-define all possible recipients of untraceable money to be criminals.
How about donating to Tibetan or Uyghur activists in China? Womens’ rights activists in Saudi Arabia? LGBTQ+ organizations in Russia? What about Cannabis dispensaries in American states where Cannabis is legal but the Federal government is still trying to prosecute them? Or sending money back to your family in Venezuela?
Sorry you’re too obsessed with drinking his cum to see that.
This is a great example of the ridiculous polarization that current American politics are suffering from. I loathe Trump. He’s the worst president America has ever had, and it’s utterly baffling that he got reelected. But since he used cryptocurrency for something and I’m not anti-crypto, boom, I’m assumed to be an extreme Trump supporter.
Also, rule 1 of this community: be civil.
In terms of cash volume, what percentage of all crypto transactions do you think go to those worthy causes, compared to money laundering, drug payments and smuggling?
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Why do you need to use crypto to pay legitimate workers under the table?
I literally just listed a variety of situations where you’d need to do that.
Yeah, for cooking into shoe leather and slathering in catsup before spending the next few hours on the shitter tweeting nonsense words until you manage a single bunny style bowel movement.
Got any more straw for that man?
It’s more that your argument is logically flawed and the person responding is pointing that out.
For what it’s worth I do think crypto is scammer’s paradise, but your original comment does not provide any real justification for that except a single example. Nor is saying “jump of a bridge” really polite.
It didn’t exist 24 hours ago and is now valued at $24 billion and doesn’t actually do anything except “hold value.” You can’t live inside of it like a house, you can’t eat it, you can’t drink it. Why is it worth $24 billion other than “it’s a scam?”
I don’t really need a serious fucking argument because that alone should be enough.
Also, Carter had to sell his fucking peanut farm, but this is fine, I guess. Nothing to see here, move along. I just need better arguments, it’s not that this is open and shut corruption out in the open.
You’ve lost track of what’s being talked about. I was talking about steak.
I’m not saying Trump’s cryptocurrency isn’t a scam. It almost certainly is a scam. But you generalized from that to saying that “crypto is a scammer’s paradise” and then told people who didn’t agree with you to kill themselves. That’s where your logic is flawed (and also where it’s certainly a violation of this community’s “be civil” rule).
The fact that Trump has released a scam cryptocurrency doesn’t mean that all crypto is a scam, in the same way that Trump releasing an awful Trump-branded steak doesn’t make all steaks into some kind of weird grift.
Yeah, because you can still eat a steak dude. Even if it’s a shitty low-quality one.
I wasn’t aware of the “can I eat it?” Method of determining whether something is a scam or not.
sharper image + trump = double the scam at 5x the price. didn’t even pair it with diaperking’s favorite ketchup
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That name is perfect. Gonna start calling it strumpet.
All the wrong people got money.
QE was a method of upward distribution of wealth.
What is QE?
Quantative Easing
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.
I’d love to be POTUS. Time to download some Nintendo games! /j
Pump and dump schemes? Yes, according to earlier incarcerations
For stocks, yes, but crypto is basically unregulated as far as I know.
And trump intends to keep it unregulated because of course he’s seen the quick buck he can make with that scam
So… he stole the idea from hawk tuah
Was that premined?
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.
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
The amazing real circus
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.
