More Than 800K Have Lost $2B on Trump’s Meme Coin
More Than 800K Have Lost $2B on Trump’s Meme Coin
The token’s price has crashed from $75 to $17.
You're supposed to lose your money. That's the business.
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.
I absolutely LOVE that form them!
I like that they're losing money, I dislike that drump himself is probably receiving that money.
Ah, meme coins-the financial equivalent of betting your life savings on a Magic 8-Ball. How poetic that the same crowd screaming "drain the swamp" now drowns in a crypto septic tank. $2 billion evaporated? That's just the market's way of Darwin-awarding fiscal literacy.
Trump-branded anything is a loyalty test, not an investment. Imagine clutching a digital token of a man who'd sell your kidneys for a Fox News soundbite. The grift's the point-watching rubes conflate memes with merit. Never change, cultists.
Edit: no more bold, geez! I got it
There's a German saying for that:
Tja.
Also: schadenfreude
Indeed.
The only problem with that is that the money goes straight to fascism
In the region of Albacete (Spain) we have a similar word.. and no, it's not related to the video game giant:
Ea.
jep
Buy clown coin, get clowned
more at 11
Yeah, but it's going to go to the moon any day now! True believers will buy the dip! Make Meme Coins Great Again!
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
Hmm now I feel bad for not shorting it, after having thought about it initially...
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.
Coffeezilla on the subject. I guess Trump is running with the 'if the president does it, it isn't illegal.'
A fool and his money are easily parted.
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.
Good
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.
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.
i put 20 bucks in cause i thought what the hell, and now its only worth like 6 or 7 bucks lol
You are the 800k.
Idiot
Well deserved losses.
Was never anything more than a way to scam some money and make it harder to track/tax.
Finally a news story about American politics that is actually news and I want to hear about.
It is almost like the Orange Turd is a con man. Who could have seen this coming!
It's a metaphor for the US economy
Sounds like a class action lawsuit screaming to happen
In what courts? Why would they hold Trump accountable?
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.
Buy at the dip. (Dip is $0.17)
