I’ll go in and rob everyone blind and go to Florida because nobody ever thought of this before
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The emoluments from the First Trump Reich already seem piddlyshit by comparison:
President-elect Donald Trump promised a crypto-friendly administration. Days before taking office a second time, he and his family began selling new cryptocurrencies.
Named $TRUMP and $MELANIA, the projects are meme coins, a type of crypto whose value is based largely on the popularity of internet memes. The tokens are available on the Solana blockchain.
The president-elect’s token, which was unveiled Friday night, quickly soared in value and held a market value of more than $9 billion as of Sunday afternoon, according to CoinMarketCap.
“It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW,” Trump wrote on his social-media platform, Truth Social.
The post, which went live at 9 p.m. Friday, caught the crypto industry off guard. Even as the coin’s value soared, some worried about its heavy insider ownership and potential for conflict of interest.
Hundreds of crypto executives and political heavyweights had gathered in the nation’s capital Friday night to celebrate what they expect to be a golden age for digital assets under the Trump administration. Many didn’t learn about Trump’s meme coin until Saturday morning, according to executives who attended the event, dubbed the Crypto Ball.
On Sunday afternoon, Melania Trump followed in her husband’s footsteps, posting on social media that she, too, is launching a meme coin. Some 15% of the $MELANIA tokens will be available for public distribution, according to the website associated with the token. The $MELANIA token launch, however, sent the $TRUMP coin crashing more than 45% before regaining some ground.
Always be etc:
“The $TRUMP memecoin — a financial asset that didn't exist on Friday afternoon — now accounts for about 89% of Donald Trump's net worth.”
Trump just became one of the top 25 richest people on earth. Through this. Insane, open & now normalized corruption. https://t.co/XfUL0hFakP— Mehdi Hasan (@mehdirhasan) January 19, 2025
This is bad because it’s a vehicle for virtually unlimited bribery. As for the people who buy it because they think it will appreciate in value, I hope they all end up bankrupt like they deserve to.