Trump’s $TRUMP Coin
I don't pretend to know everything about crypto-currencies, but I know enough to make me not wanting to buy some. Or put another way: To me, the very existence of cryptocurrencies sets my inner alarms going: That's too strange to be safe! What makes my inner alarms go from alert to super-alert when reading about this special "coin" is the name Trump, which to me means "fraud", "back-stabbing", "callousness" and a lot of other not exactly pretty things. Because of that, it will be obvious that I wasn't surprised when I read this: "Donald Trump supporters lose $12,000,000,000 after his meme coin collapses"
Trump the Grifter has been selling various objects and assets, like e.g. his used "gold shoes". As far as I remember, he got a steep price from a MAGA-man who somehow saw these worn shoes as a wonderful - and maybe even "magic" - buy. For instance, he - or some other MAGA - may see tRump as a kind of money-magician who somehow may transfer his presumed "luck" to his followers.
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The truth is that while he is making fortunes for himself, he is ignoring the needs of others - or downright robbing them. For instance he made a law about taxing poverty while enriching billionires.
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What does Gangster-Don gain by selling Crypto coins? Well, they may be sold in unlimited numbers, thus giving him an instant money-boost. There are no limits and no disclosures, just a secret flood of finances, without "fingerprints", so to speak. Those who want to influence the politician tRump may do so by buying his coins and that's the paved road to illicit actions within the presidency. For instance insider trading ....
All of this reminds me of the OneCoin-scheme by Ruja Ignatova. She cheated masses by looking and acting as their friend, eager to better their life, while robbing them".
FBI has been looking for her for some years, but she seems to be good at hiding, probably because she has influential friends/business-partners. The OneCoin-setup is not only an ordinary scam, but a Ponzi-scheme, and it worked fine in the first stages, but ended up robbing ordinary people of their savings, just like tRump's Crypto.
https://edition.cnn.com/2025/02/28/business/crypto-mogul-trump-coins-civil-fraud-charges/index.html
https://www.theguardian.com/us-news/2025/jan/27/trump-meme-coin-cryptocurrency
https://constitution.congress.gov/browse/essay/artI-S9-C8-3/ALDE_00013206/
https://www.rollingstone.com/politics/political-commentary/trump-crypto-meme-coins-wrong-1235246237/
https://edition.cnn.com/2023/01/22/business/ruja-ignatova-cryptoqueen-fbi-most-wanted-cec/index.html
Wikipedia
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