Saturday, January 18, 2025

Trump Launches Crypto Meme Coin, Ballooning Net Worth Ahead of Inauguration

A president-elect launching a new business product is a highly unusual move, and it is a major concern for ethics watchdogs.

Posted by retort at 04:28 PM | 10 COMMENTS | permalink

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"Trump has dropped what might be the biggest grift in crypto meme coin history."

(This account is run by an old friend of mine and I trust his analysis)[image or embed]

-- Aaron Rupar (@atrupar.com) January 18, 2025 at 10:03 AM

Comments

"grifter" is actually one of his better qualities.

Almost all the others are worse.

#1 | Posted by Corky at 2025-01-18 05:33 PM

There is a 100% chance that this is a scam.

#2 | Posted by johnny_hotsauce at 2025-01-18 08:11 PM

Thanks Trumpers, this is the s*&^ you saddled us with.

All while he immediately moves to deregulate crypot to increase his haul on his scams.

GFY you worthless sacks of s*&^.

#3 | Posted by jpw at 2025-01-18 08:42 PM

As I've said before crypto currencies and related entities like meme coins are vehicles for criminal activity and naked speculation and nothing more. That King Dotard II will give legitimacy to such scams will encourage his mouth breathing followers to invest' in these things, just as they would take their SS checks to the casino. The buyers will not mind when they lose what they have put in because they know their money is going to what they think is a good cause"their king ...

#4 | Posted by catdog at 2025-01-19 11:08 AM

Grifting starting early.
What did his voters think they were going to get?

Golf, Yelling at the television, scamming, lying, posturing while doing nothing of substance...
that os all he will do...again.

#5 | Posted by e1g1 at 2025-01-19 09:57 PM

__________
... it is a major concern for ethics watchdogs.

"Ethics? We ain't got no ethics! We don't need no ethics! I don't have to show you any stinking ethics!"

Where have these "ethics watchdogs" been in the last 10 years and what did, could, can they do... except "express [major] concern"?

The "First crypto President" / "Slick Donald" strikes again...! Celebrity Apprentice 4.0 s**tshow is just starting. "You're fired! And you're fired! And you're fired!"

$TRUMP coin went to $72 in mere hours before dropping to $39. But wait, there is more!

Melania Trump posted : "The Official Melania Meme is live! You can buy $MELANIA now."

Only 15% are floated for distribution. Went from pennies to $10 in no time.

$MELANIA "coin" website and domain were created / registered just yesterday! Next on tap - $BARRON, $IVANKA, $DONJR "meme coins"?

"Drop It Like It's Hot! Drop It Like It's Hot!" - Snoop Dogg at the "Crypto Ball" in D.C.

34 Felony Counts, 1 Conviction, 2 Cases Pending, 2 Ompeachments, 6 Bankruptcies... 4 More Years. Precious!
__________

#6 | Posted by CutiePie at 2025-01-20 07:16 AM

What the Sam Hill is a "meme coin" and why the hell would anyone buy one? Is it like those stupid NFTs?

#7 | Posted by TFDNihilist at 2025-01-20 02:34 PM

Is it like those stupid NFTs?

Pretty much.

#8 | Posted by REDIAL at 2025-01-20 02:38 PM

"@balajis

A memecoin is a zero-sum* lottery.

There is no wealth creation. Every buy order is simply matched by a sell order. And after an initial spike, the price eventually crashes and the last buyers lose everything.

* It's actually negative sum if the platform takes a cut."

x.com

'

"Crypto Execs Unamused by Trump Meme Coins'

The meme coin sector is divisive as it fuels criticism that the crypto industry is frivolous and risky, the report said. Meme coins depend on social media momentum that can fade as fast as it materializes.

Balaji Srinivasan, an angel investor and former chief technology officer at Coinbase, posted on social platform X that meme coins are a zero-sum "lottery" where the "price eventually crashes and the last buyers lose everything."

www.pymnts.com

Make America Grift Again!!

#9 | Posted by Corky at 2025-01-20 02:43 PM

__________
www.npr.org - What's An NFT? And Why Are People Paying Millions To Buy Them? - NPR, 2021-03-05

The NFT scam was more "sophisticated," somewhat legalistic about what partial "rights" one would acquire to a "digital art," and a lot more complicated, involving more steps to execute.

This scam is considered a "lottery" unless you are nimble and equipped with specialty trading bots networks, or receive non-public information on "coin" ICO, or pre-allocation.

www.nbcnews.com - Memecoins like Fartcoin are riding Trump's victory to huge valuations. - NBC, 2024-12-17

|------- Yes, it's called Fartcoin. Yes, it is totally useless.
And yes, it has nevertheless grown in value over the past week to a market capitalization of more than $800 million " about equal to those of Office Depot, Guess jeanswear, and the parent company of Steak N' Shake. ...

"A lot of it is people thinking, 'I can get some sort of edge by having a better chance at a lottery ticket..."

Memecoin buyers and sellers alike are, for the most part, aware that their trading activity amounts to the riskiest kind of gambling, Bautista said. It's all about exiting one's position to avoid getting left with "holding the bag" and failing to trade up and strike while the price is hot.

"Because they're worthless, you're betting on the 'greater fool,'" he said, referring to the idea that someone else will pay a higher price for a given memecoin. "You're thinking, 'I'm early to this, someone will buy the bags.' But there's no underlying... value." ...

Blockchain data shows at least one holder of a coin (PNUT) created in the wake of the Peanut the Squirrel incident last month, which involved the death of a rodent possibly being kept without permission by a New York man, is sitting on nearly half a billion dollars. ...

Bautista said that indeed, algorithmic trading, which has long been part of mainstream trading on Wall Street, is now routinely deployed in the memecoin space. He estimates that of the top-20 traded coins in crypto, half are memecoins whose trades are almost entirely driven by bots designed to spot and respond to price movements. ...

World Liberty Financial, a crypto project "inspired by Trump" ... Trump has been named as an eventual "financial beneficiary" of World Liberty.
-------|

This is description of $WLFI "coin" - "World Liberty Financial is the DeFi project backed by Donald Trump and his family members including Eric Trump, Donald Trump Jr. and Barron Trump. World Liberty Financial is a project with the goal of strengthening the global status of the US dollar in the DeFi space" - which must be a sick joke, because the only purpose of these "coins" is to exchange these worthless "currency" into USDs.

As $TRUMP and $MELANIA "coins" show, apparently, even $WLFI cash-grab, along with pumped-up DJT stock scam, has not been enough.

insidebitcoins.com - Trump Family's World Liberty Financial Token Sales Surge Following $TRUMP And $MELANIA Meme Coin Launches - IBC, 2025-01-20
__________

#10 | Posted by CutiePie at 2025-01-21 03:27 AM

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