Trump / Musk (other than DOGE)

  • Thread starter Thread starter nycfan
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nycfan said:

Trump launches meme coin, apparently makes more than $25 billion overnight​




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.
Catch up quick: Friday night, while Trump was reportedly hosting a "Crypto Ball" for the industry in Washington, the president-elect launched his own meme-linked cryptocurrency.

  • His website bills it as "the only official Trump meme."
  • While a number of Trump-branded meme coins popped up in recent months, none had his official endorsement until now.
By the numbers: According to CoinGecko price data, $TRUMP rose more than 600% overnight and was trading just over $32 as of 11 a.m. ET Saturday.

According to CoinGecko price data, $TRUMP rose more than 600% overnight and was trading just over $32 as of 11 a.m. ET Saturday.

  • That gives the coin a fully diluted market capitalization just north of $32 billion.
  • The meme website says 80% of the supply is held by Trump Organization affiliate CIC Digital, and a CIC co-owned entity called Fight Fight Fight LLC. ("Fight fight fight" is what Trump said after being shot at a rallyin July.)
  • They are subject to a three-year unlocking schedule, which means they cannot dump all of their holdings at once.
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Good luck trying to ever realize that $25 billion. By the time any significant amount was offered for sale, the price would crater.

But also, this is a good counter to all those people who try to claim Trump lost money by running for president.
 
lawtig02 said:
The story of this era in history books 40 years from now is going to be un-fucking-believable. I mean that literally. Kids then will think it has to be fiction how abjectly stupid Trump supporters were.
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I think you are discounting who will write the history books. I don't think it will be us.
 
Calheel said:
Good luck trying to ever realize that $25 billion. By the time any significant amount was offered for sale, the price would crater.

But also, this is a good counter to all those people who try to claim Trump lost money by running for president.
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How could he realize any actual money from it? Is there a waiting period? I thought hawk tuah girl got busted for pumping and dumping?
 
Callatoroy said:
How could he realize any actual money from it? Is there a waiting period? I thought hawk tuah girl got busted for pumping and dumping?
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Apparently there is a Staggered three year lockup and people are watching for the dump …
 
nycfan said:
Apparently there is a Staggered three year lockup and people are watching for the dump …
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Will be interesting to see if he ever receives any real money from it. If his term goes well maybe, but if it doesn't go well I think he will be dropped pretty quick by all except those who bought his golden shoes and the other crap he peddles.
 
Callatoroy said:
Bullshit. You don't have any regard for any trump supporters. Make your fortune. I dare you.
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That’s because Strange doesn’t have a following of millions of gullible cretins who believes everything he says and gladly give him their money.
 


He is not going down with it. He has all the crypto kings genuflecting to him to get the deregulated crypto world they want …
 
Healing said:
I suppose, but some of those numbers are fucking ALARMING, imo. You’re telling me more than 40% of this country favors military invasion of Panama? Fuck off jingoists.
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I think probably 30-40% of the country is neck deep in the right wing disinformation swamp so, while alarming, I don't find those numbers surprising. MAGAs support anything Trump wants to do, especially actions that they view as displaying dominance over others, whether that be weaker nations, marginalized communities, or perceived political enemies. They live vicariously through and relish Trump's disrespect and humiliation of others. The cruelty is the point.
 
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