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”.
I’m sure there’s still a plenty of idiots buying these.