Dive into the murky waters of $TRUMP cryptocurrency
S E E D E D C O N T E N T
Dive into the murky waters of $TRUMP cryptocurrency, where the stench of corruption is undeniable:
Insider Trading Galore: With Trump's affiliates holding an 80% stake, the coin's launch saw insiders rake in millions overnight, while retail investors get the short end of the stick. It's eerily similar to the Wall Street insider trading we've fought against.
Ethical Quagmire: This isn't just about making money; it's about exploiting political influence. Trump's involvement turns this into a conflict of interest, using his name and power to promote a coin where he and his circle stand to gain the most.
Erosion of Trust: Cryptocurrency was meant to democratize finance, not to be a playground for the politically connected. When the former president can manipulate the market, how can we expect the public to trust in the integrity of crypto?
Regulatory Nightmare: If we don't self-regulate, expect heavy-handed government intervention. This could mean more red tape and less freedom for genuine crypto projects to thrive.
$TRUMP isn't just a meme coin; it's a symbol of everything wrong with mixing politics and money in the crypto space. We need accountability, transparency, and a level playing field. The fight for a fair financial system is far from over.
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Since when has crypto been something to trust in?
www.usatoday.com /story/money/2025/01/18/trump-meme-coin-price-crypto/77802704007/
Trump mints $31 billion with new official $TRUMP crypto meme coin
5-6 minutes
Just days before his second inauguration , President-elect Donald Trump issued a cryptocurrency meme coin memorializing his response to the July 2024 assassination attempt .
The new $TRUMP meme coin – a type of cryptocurrency – launched Friday night with posts on Trump's Truth Social social media platform and on X, the social network previously known as Twitter . According to the coin's website, gettrumpmemes.com , there are 200 million $TRUMP coins available now, with plans to have 1 billion over the next three years.
The site deems Trump as "the crypto president," and the coin portrays the President-elect with "his fist in the air and the iconic battle cry FIGHT FIGHT FIGHT," Trump called out after the July 13, 2024 assassination attempt in Butler, Pennsylvania .
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What is a meme coin?
Meme coins are a type of cryptocurrency usually inspired by internet memes , often a pop culture image or trend. A well-known meme starred the Japanese dog Kabosu that became a popula r me me online in the early 2010s.
Then in 2013, Kabosu became the face of Dogecoin , which became one of the most popular "meme stocks" during the COVID-19 pandemic retail trading boom. Elon Musk famously changed the logo of Twitter to the Dogecoin logo in April 2023, CNBC previously reported .
Trump has named Musk and entrepreneur Vivek Ramaswamy to co-lead the new Department of Government Efficiency (D.O.G.E.) .
How much is the new Trump meme coin?
On Saturday at 1 p.m. ET, the Trump coin was trading at about $31, according to crypto exchange GeckoTerminal . When trading started, the coin's value was 18 cents, the site said.
Trump coin had a fully diluted valuation of about $31.37 billion and a market cap of more than $6.27 billion, as of noon Saturday.
"'Trump Coin' has taken the cryptocurrency world by storm, potentially positioning itself to challenge Dogecoin's supremacy in the meme coin ecosystem," wrote London-based fintech analyst Boaz Sobrado on Forbes.com .
"The stunning launch of $TRUMP caught the entire industry off-guard, and speaks to both (Trump's) personal influence and the ascendancy of cryptocurrency in his administration," wrote Axios' reporters Ben Berkowitz and Brady Dale .
Trump's cryptocurrency move, they said, swiftly appeared to make more than $25 billion on paper for himself and his companies."
According to the coin's website, CIC Digital LLC, which is an affiliate of The Trump Organization, and Fight Fight Fight LLC, which is co-owned by CIC Digital, collectively own 80% of the coins. The coins are subject to a 3-year unlocking schedule, which means those holdings cannot be dumped all at once, Axios reported .
When the Trump coin announcement hit social media, there were "serious questions about the legitimacy" of the cryptocurrency, reported the Crypto Briefing news site . But the new project is likely the work of those who helped on Trump's "America First Collection" of digital trading cards , the site reported.
Investors should remember that cryptocurrencies can be volatile. Those who buy the new coin must agree to terms and conditions including agreeing not to bring future class action lawsuits, a move to help reduce the financial risk of the company and issuers, Newsweek reported .
Trump merch: Sneakers, Bibles, NFTs and now meme coins
This is just the latest of Trump's merchandising offers, which have included Trump sneakers , victory cologne , watches – including one model for $100,000 – and Bibles .
You can buy Trump coin using the Moonshot app . There could be more cryptocurrency offers coming during Trump's term. Paul Atkins, his pick to head the U.S. Securities and Exchange Commission , is considered crypto-friendly compared to outgoing Democratic SEC head Gary Gensler.
And Trump is considering the creation of a strategic reserve of bitcoin , which is considered the first successful digital currency .
Trump's crypto deals are a natural progression of his brand-building, which has included Trump hotels and casinos, Forbes' Sobrado wrote.
"The emergence of a presidential meme coin might seem unprecedented, but in the context of Trump's brand-leveraging history, it follows a familiar pattern," he wrote. "The president has consistently demonstrated his ability to monetize his personal brand. What's different this time isn't the strategy, but the medium – and ironically, the regulatory environment that made it possible."
I invest in expensive knives, guns and Rolex watches. Not even sure what a bitcoin is or what they are good for.
But obviously you know what those guns, knives, and watches are-- and what they're good for!
I've traded stocks for decades but have never traded physical objects. One of ther things I've learned: you have to know what you're trading. Also, while there are different ways to find the value of anything you're trading, in a capitalist system ultimately the value of anything is determined by a price agreed upon by the buyer and the seller!
I suppose if I wanted to, I could learn about the market for sneakers, Bibles, and meme Bitcoins. Or guns, knives or watches. Or Real Estate. Or Gold coins. etc
Of course there's money to be made. But I prefer stocks (and ETFs) so that's what I trade.
P.S: Over the years, in evaluating a stock to buy or sell, I'm really not to interested in the vast number of people who value things differently (I don't give a hoot about what, say, the Founding fathers (or Jesus Christ for that matter, ) would say of my trades.
(But that's just me
)
Tell us again about how much the Founding Fathers would approve of Donald Trump.
I'm not too familiar with the early presidents-- but I'm a curious person.
(Wondering if I should spend the time googling them to see if any were as corrupt-- or more corrupt-- than Trump)???
It’s simple, Trump is a con man, and grifter. There is noting he would not do for the almighty dollar especially when he has millions of MAGA supporters/financiers.
To the best of my understanding , the guy in the video , nicknamed Voidzilla, is one of the leading experts on crypto on You Tube.
Trump doesnt care about the American people. He sees them as fools and chumps to take advantage of.
Well if it turns out that a lot of people buy his new coin--- he might be right!
There's an olde saying:
There's a sucker born every minute.
(Attributed to P.T. Barnum)
This should be the headline American news story of the day, but its not because our society is corrupted.