When he launched his own cryptocurrency, Trump produced unimaginable wealth from thin air. But it will come at a

[riversedge]

Jan 20, 2025 2:58 PM
The Trump Memecoin’s ‘Money-Grab’ Economics

https://www.wired.com/story/the-trump-memecoins-money-grab-economics/?utm_source=firefox-newtab-en-us

When he launched his own cryptocurrency, Donald Trump produced unimaginable wealth from thin air. But it will come at a cost to someone.


Late Friday evening, three days before his return to the Oval Office, Donald Trump performed an act of crypto alchemy. Pretty much all it took was a few strokes of the keyboard. “My NEW Official Trump Meme is HERE!” the incoming US president wrote in a Truth Social post. “It’s time to celebrate everything we stand for: WINNING!”

The post marked the launch of Trump’s very own memecoin—a type of joke cryptocurrency that typically has no purpose beyond financial speculation, whose value tends to whipsaw dramatically with changes in public sentiment.

The price of the TRUMP memecoin began to hare upwards almost immediately, despite speculation that Trump’s account had been hacked. By the following day, the coins released into circulation—20 percent of the total supply—were valued at $14 billion.


On Sunday, first lady Melania Trump followed with a memecoin of her own. At the time of writing, the circulating MELANIA coins are worth nearly $1 billion.

By virtue of the vast amounts of the TRUMP coin held back by Trump-affiliated entities, the incoming US president was suddenly connected to crypto coins with a theoretical value of more than $50 billion. The memecoin accounts for almost 90 percent of Trump’s net worth, Axios calculated.
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[CurtEastPoint]

1. These two are already down in the history books as evil, shady, nasty, lying grifters. Burn in hell.

[Lovie777]

2. Unimaginable is the key word.................

[brush]

4. It's imagined all right. Until the bs coins are taken down and converted to cash in the bank...

it's just imaginary...fools gold to the fools who buy.

[bucolic_frolic]

3. Illegal immigrant new billionaire!

Why do we not see these headlines?

[get the red out]

5. The art of the con

[sop]

6. 'Thoughts on $TRUMP from a cryptolawyer'

I will openly admit that no one I have ever spoken to...and I mean no one...can explain "cryptocurrency" in a way that makes any sense to me. Some thoughts about Trump's latest scam from a cryptolawyer:

"I would put the probability of a civil lawsuit of some kind within the next 60 days at 100%, within the next 14 days at 90%. I am absolutely certain this will happen. Someone will lose money, some lawyer will come up with a theory and file."

"One thing that my cryptolawyer colleagues seem to agree on is that the $TRUMP project is one of the most significant things to happen to the industry, period. The President of the United States just YOLOd (see definition below) a memecoin on the eve of his inauguration. This was hitherto completely unthinkable. Trump Coin will now be tracked on CNBC financial shows, in newspapers, the price will be a reflection of the underlying tone of American society and the American project. Everyone will have a point of view trying to read the tea leaves and understand the significance of daily price movements as an expression of the Zeitgeist."

"Trump himself will also have to contend with the fact that his political fortunes will be tied to an asset that the market, and not the man, controls. If $TRUMP crashes it might affect his own political clout in DC. Just imagine Democrats making presentations featuring blood-red crypto market charts in floor speeches in Congress. This has simply never happened before."

https://prestonbyrne.com/2025/01/19/thoughts-on-trump/

*("YOLO" is an acronym for "you only live once". It's a slang term that's often used on social media to encourage people to live life to the fullest and do things they enjoy, even if they're risky or silly.)

[Frasier Balzov]

10. Trump doesn't YOLO as much as he FOMOs.

[Vogon_Glory]

7. You know, if he wasn't the all-wise, all-knowing, selfless Donald Trump we know and love

I’d think he was front-loading another Great Recession or Great Depression. Not that it would matter to his adoring fans. I’m sure they’d feel honored to stand in breadlines for their avatar. I’m sure they’ll tough out the hardship (especially the ones that had been on federal assistance programs until thi year).

[2naSalit]

8. Anything that...

Gives him access to others' money is good in his reckoning.

[eppur_se_muova]

9. Well, obviously -- if you can't tell what the product is, you're the product. nt