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.
I hope everyone is acutely aware that you, me, WE are not in a class war.
WE HAVE LOST A CLASS WAR.
What happens now?
Time to start the next one
Now we wait til it gets so bad people stop going to work, in unity.
We should have seen that coming.
There is a lot more of this coming.
Trump intends to leverage his office to make his family wealthier.
Sucker born every minute, etc.
Holy shit, inb4 he pumps and dumps and avoids jail cause of presidential immunity
Is that even illegal yet?
Nothing is illegal for a POTUS. He cannot be charged with any crime while in office, running for office, considering to run for office, and/or dreaming of being in office.
I’d love to be POTUS. Time to download some Nintendo games! /j
Pump and dump schemes? Yes, according to earlier incarcerations
For stocks, yes, but crypto is basically unregulated as far as I know.
And trump intends to keep it unregulated because of course he’s seen the quick buck he can make with that scam
Fools always find their kind
This is so fucking stupid. Everything. I feel like we’re living in a fucking clown show.
The amazing real circus
Think of it this way I can’t bribe Trump but if I bought 20% of this shitcoin I might be able to get his ear.
Can’t decide if I’m annoyed that this poorly-disguised influence scheme will go unpunished, or if thrilled that many very deserving people will be separated from their money.
Why would you be happy about their money going to even less deserving people?..
if you felicificly calculate it it works out
They are only worth what
peopleidiots pay for it.It’s money laundering
All the wrong people got money.
QE was a method of upward distribution of wealth.
What is QE?
Quantative Easing
They aren’t buying cryptocurrency - they’re buying influence. The cryptocurrency is just a front.
The grift is so transparent it’s scary that so many people can’t/won’t see it.
I suppose that’s more streamlined method of bribery than buying property in his towers or booking his hotels.
Or buying ads on his wife’s radio station as apparently was how you’d get in front of President Johnson.
Hmmm that’s interesting. I wish I knew more about the crimes of all the presidents. I feel like if they were talked about more it would really bring down some of the power that people want to give to that office. Instead they make them out to be like gods after they are dead long enough
It’s funny (sad funny not hot haha funny) because we had a whole ass apology tour to the rest of the world because of getting caught having the Bush administration sign off on torture, up to and including lawyers and psychologists to support the theory that it was just “enhanced interrogation.”
Those are war crimes my dude. Bush should have been sent to the Hague. Honestly, what Bush, Cheney and Co. did was so much worse, devastating to the world, violent, and murderous than anything Trump has done yet. Honestly, you could argue that they ruined US reputation so bad internally and externally that they set the stage for Trump to take over. Trump won the year Jeb Bush was supposed to be coronated just like Hillary Clinton. They also are part of the current crises with immigration and rising right-wing sentiment in Europe since the war displaced so many. Bush deeply fucked up the planet and Europe and the Middle East especially.
In fact, Trump will do one thing previous Presidents haven’t done, he will make his own citizens suffer most of the pain instead of foreigners. That’s evidenced by how he considers many citizens to be foreigners already due to things like birthright citizenship. They’ve come out and said that explicitly. I guarantee he will be the first US President to cause more suffering to his own citizens than foreign citizens. He literally is gleeful at things like the Death Penalty, he wants to be the one pulling the switch. He’s really not all that different from Matt Berry’s character on Snuff Box who is a royal executioner who loves his job.
Anyway, we never did anything about actual well documented capital-W War Crimes, and instead have a “Hague Invasion Act” so if anyone from the US gets dragged to the Hague we’ll invade it to get them back. Like holy shit, I had my “Are we the baddies?” moment 24 fucking years ago.
I guarantee he will be the first US President to cause more suffering to his own citizens than foreign citizens.
It’s not beyond the realm of possibility that he could accidentally start a war somewhere in the world. Or make an existing one much worse than it already is.
100% this. 25 billions? That’s quite some money but nothing regarding the sell out that will happen the next 4 years. The USA will be slaughtered on a global scale, strictly orchestrated by its own rules of unrestricted capitalism. The last feast before the climate wars.
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.
Old Man stock market looks up and chuckles “That’s my boy…line go up.”
America for sale. You hear that Republicans? You just got sold out.
I doubt they can hear much of anything with their heads lodged that far up Trump’s ascending colon.
Pump and dump
My dyslexia initially read that as “plump and dumb” which is also accurate.
This is going to be a historic pump and dump.
That name is perfect. Gonna start calling it strumpet.
Fuck, I just looked at this yesterday and thought why not put a few monies in. And then went to sleep without doing anything.
Not doing something to help Trump just to enrich yourself is the ethical option.
There’s that, but then again if I would have had managed to exit before the crash (which apparently already somewhat happened) I would’ve been practically stealing money from some MAGAs. But probably only those MAGAs who least deserve to be stolen from. The actual demons know exactly when to exit and are only going to profit from this.
You still would have helped Trump make money.
