The TRUMP token is down 96% from its peak, and 85% of secondary market wallets for WLFI are underwater, reflecting a broader downturn in the sector.

all 7 comments

sorted by: hot top controversial new old
[–] 20 points 4 months ago (2 children)

It served its purpose. Trump pocketed all that money.

  • source
  • hideshow 2 child comments
  • [–] 3 points 4 months ago

    I'm sure the dumbasses that bought all his merch were probably annoying Donvict because he probably made zero money on that, or, if anything, he was not getting high enough margins - having to pay someone in China for those hats and so on.

    With the cryptoscam, I'm sure the margin is much higher. And as others have pointed out, virtually untraceable for bribes.

  • source
  • parent
  • [–] 15 points 4 months ago

    Anybody remember the Emoluments Clause? No? OK, just checking...

  • source
  • [–] 11 points 4 months ago

    I thought it was a donation. You’d have to be a special brand of fool to consider it an investment, a real cut above those who would intentionally donate their hard earned money to a billionaire.

    Ahh, wait a moment. I see.

  • source
  • [–] 6 points 4 months ago

    And they'll be happy about it.

  • source
  • [–] 4 points 4 months ago

    Meanwhile he's up 2 billion... hmmmm 🤔

  • source
  • 18 comments in c/technology@lemmy.world view that post
    [–] 107 points 4 months ago (3 children)

    3.8 Billion Dollars doesn't disappear. Saying that the buyers "lost" 3.8 Billion Dollars is only telling half the story, and IMO the least important half.

    Buyers spent 3.8 billion dollars on a coin that is worthless. So who received the 3.8 billion dollars? Most of it went to the people who sold the coin originally.

    In other words, Trump fleeced his base. Again.

  • source
  • hideshow 3 child comments
  • [–] 48 points 4 months ago (1 child)

    I'm not sure he actually fleeced the big buyers. One of the main "problems" in paying a bribe is how to present the payment as something legitimate.

    If you can maybe just innocently "invest" in some crypto scheme. Totally legitimate investment, just so happened it failed, oh well.

  • source
  • parent
  • hideshow 1 child comment
  • [–] 33 points 4 months ago (2 children)

    If you knew anything about crypto, you knew this was huge rug pull bait. Win the election, spin up your own coin. The mindless MAGA base buys it up from the election win hangovers then pull the rug.

    Easy money.

  • source
  • hideshow 2 child comments
  • [–] 31 points 4 months ago
    [–] 24 points 4 months ago

    Who could have foreseen this?!

  • source
  • [–] 23 points 4 months ago

    reflecting a broader downturn in the sector.

    What sector is that, the money laundering sector?

  • source
  • [–] 15 points 4 months ago (1 child)

    "I love the poorly educated."

  • source
  • hideshow 1 child comment
  • [–] 20 points 4 months ago

    And Trump increased his revenue by 2 billion last year…. Funny how that works.

  • source
  • [–] 5 points 4 months ago

    It’s all grift — all the way down

  • source
  • [–] 5 points 4 months ago

    I thought this was just a mechanism for Trump to take bribes?

    I'm sure there are idiots who tried to play the pump n dump and some MAGAs who deserve whatever comes to them, but I bet a good number of people who "lost money" were insiders recruited to pump the price for political favors.

  • source
  • [–] 4 points 4 months ago

    You mean Trump's pump and dump?

  • source
  • [–] 6 points 4 months ago

    griftin'.... griftin'.... griftin' the night away....

  • source
  • [–] 1 point 4 months ago

    I mean, to be honest its their own bloody fault.

  • source