- cross-posted to:
- news@lemmy.world
- technology@lemmit.online
- cross-posted to:
- news@lemmy.world
- technology@lemmit.online
Summary
Donald Trump’s cryptocurrency, $Trump, has led to $2 billion in investor losses.
Launched three days before his inauguration, the meme coin initially surged from $0.18 to $75, allowing early traders to profit massively.
However, its value has since plummeted to $17, leaving over 810,000 crypto wallets at a loss.
Meanwhile, Trump and his family have earned over $100 million in trading fees.
As much as I don’t want regular people to suffer, this is like hearing about someone who thought everyone who didn’t drink bleach was stupid and they were going to prove something by downing it. At no point was that coin a good idea for anyone except the ones who got on early and guessed the right time to dump it, and that information was very freely available.
I’d say maybe losing a lot of their own money will finally teach people not to trust Trump, but a) we are so far past the point of trust based on logic and facts that I doubt it and b) it’s too late anyways, they’ve already given him monarch levels of power and money. Plus Trump will probably blame the crash on malicious immigrants blatantly and black women slyly (DEI) and his base will lap it up.