Basically a way for foreign actors to make bribes.

Yeah. Assuming he implemented it the way one would expect, the coin value doesn't matter to him at all.

I thought he got a percent of every transaction, I swear I heard that at one point. If that is the case then all he would care about is making sure it stays volatile.

It's literally how these things work. No one gets rich off meme coins except the people selling at the start.

Unless I'm thinking of a different Trump crypto grift, I'm pretty sure that they blocked wallets from sending/selling the coin after they've bought it. So only a handful of specific wallets would have the ability to sell.

So even if a person got in early and watched the price go up, as soon as they tried to realize those profits, they'd find out that they can't sell the tokens.

They don’t even need to sell. The price could drop to zero, Trump already made his money on the initial sale of the coins.

Nobody sane expected the price to go up; the whole thing existed to provide a veneer of plausible deniability for illegal bribes.

Yeah, this is just news for the absolutely 100% idiotic people who purchased then.

I cannot stress enough how profoundly stupid these people were. How completely and utterly hopelessly dumb they are.

Yep,the scam worked exactly as planned. If only they were half as competent at governing as they are at scamming their cult members.

How have I never seen this before?!?

That was certainly not the only point.

It sounds like you're implying the coin just plummeted at random, and there weren't any insiders that sold the coin at its highs, knowing it would collapse?

I've heard multiple stories of people spending stupid money on goldplated Trump $1000 bills and trying to deposit them in a bank.