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Trump Front-Runs Inauguration With $30 Billion Cryptocurrency Launch
The token TRUMP saw bigger gains in four hours than the S&P 500 has in three decades.
One important detail is that just 20 percent of the cryptocurrency’s total supply is currently available.
The other 80 percent — presumably held by the president-elect and members of his inner circle — is scheduled to gradually enter the market over the next three years. Officially, that supply is owned by the Trump-affiliate organizations CIC Digital LLC and Fight Fight Fight LLC, according to state filings.
Heather Cox Richardson from Letters from an American:
"Meanwhile, last night, while the leaders in the cryptocurrency industry were at a ball in honor of President-elect Trump’s inauguration, Trump launched his own cryptocurrency. By morning he appeared to have made more than $25 billion, at least on paper. According to Eric Lipton at the New York Times, 'ethics experts assailed [the business] as a blatant effort to cash in on the office he is about to occupy again.'”
"Adav Noti, executive director of the nonprofit Campaign Legal Center, told Lipton: 'It is literally cashing in on the presidency—creating a financial instrument so people can transfer money to the president’s family in connection with his office. It is beyond unprecedented.' Cryptocurrency leaders worried that just as their industry seems on the verge of becoming mainstream, Trump’s obvious cashing-in would hurt its reputation. Venture capitalist Nick Tomaino posted: 'Trump owning 80 percent and timing launch hours before inauguration is predatory and many will likely get hurt by it.'”
Yes, disgusting and terribly expected. His interest in political power has always and will always be driven personal profit. "The dollar his god; how to make it his religion."
Components of Donald Trump's wealth As of Jan. 19, 2025
"....the value of his $TRUMP memecoin at $57 billion, DJT stock valued at $4.59 billion, and other assets totaling $2.57 billion."
$TRUMP memecoin $56.6b DJT stock $ 4.6b All other assets $ 2.6B
The coin is "not intended to be... an investment opportunity," per the site, which says that it "has nothing to do with any political campaign or any political office."
There have been six bankruptcies for Trump's companies. A number of Trump's business projects failed or didn't live up to his lofty projections without resulting in bankruptcies.
It's the grift of all time... and no way SEC or other entities would go after him unlike so many other meme coins that bilked people out millions. This will be a targeted, efficient corruption machine this time around. No adults in the room, only criminal enablers.
Tech titans are bending the knee for Trump. Wealthy individuals and corporations have "contributed" obscene amounts of money towards his inaugural events.
"President-elect Trump’s inaugural committee has smashed fundraising records, racking up more than $200 million in pledges. Donations have come from some of the world’s biggest companies, and top tech CEOs will be front and center at the festivities. Ali Rogin speaks with ethics and campaign finance expert Craig Holman and New York Times technology reporter Cecilia Kang for more."
In the past, DT could never get accepted by the NYC elite, despite his efforts. He got a grifter’s welcome (the cold shoulder) from all who attended Jimmy Carter’s funeral and it seems he’s dropping all pretenses of trying to act presidential this time. Instead, he’s doubling down. Can you take the con out of the conman?
Well, the Ukraine war will be over tomorrow and egg prices will be well below todays prices by April. So there's that... and we can all prepare for the beeestest , beuatifullesttt ever gooberment of all times. One that does more and is better than any other gooberment the world has ever seen ever.. What a bunch of morons to believe this clown.
Will Donald Trump put to shame Charles Ponzi and Bernie Madoff? June 2022
"The cultists do not care.
They refuse to believe.
They refuse even to hear the evidence, perhaps out of fear that they might believe, and they do not want to risk that. It’s a mindset that is difficult to imagine.
Maybe the best way to understand the zealots who continue to support Donald Trump is to consider for a moment the most infamous of all con men – Charles Ponzi.
....the extent of the power such individuals have over those they con, however, might be evidenced by the fact that some of the people Ponzi scammed continued to ask him to invest their money after he was behind bars."
Comments
I can't wait to see the numerous ways his leadership will enrich our nation!
"Meanwhile, last night, while the leaders in the cryptocurrency industry were at a ball in honor of President-elect Trump’s inauguration, Trump launched his own cryptocurrency. By morning he appeared to have made more than $25 billion, at least on paper. According to Eric Lipton at the New York Times, 'ethics experts assailed [the business] as a blatant effort to cash in on the office he is about to occupy again.'”
"Adav Noti, executive director of the nonprofit Campaign Legal Center, told Lipton: 'It is literally cashing in on the presidency—creating a financial instrument so people can transfer money to the president’s family in connection with his office. It is beyond unprecedented.' Cryptocurrency leaders worried that just as their industry seems on the verge of becoming mainstream, Trump’s obvious cashing-in would hurt its reputation. Venture capitalist Nick Tomaino posted: 'Trump owning 80 percent and timing launch hours before inauguration is predatory and many will likely get hurt by it.'”
Disgusting, brazen abuse of power. And many more to come. We have become used to it. Imagine if another president had attempted this?
Components of Donald Trump's wealth
As of Jan. 19, 2025
"....the value of his $TRUMP memecoin at $57 billion, DJT stock valued at $4.59 billion, and other assets totaling $2.57 billion."
$TRUMP memecoin $56.6b
DJT stock $ 4.6b
All other assets $ 2.6B
The coin is "not intended to be... an investment opportunity," per the site, which says that it "has nothing to do with any political campaign or any political office."
A number of Trump's business projects failed or didn't live up
to his lofty projections without resulting in bankruptcies.
https://www.snopes.com/news/2016/08/01/donald-trumps-bankruptcies/
dGrifters gonna grift.
Wealthy individuals and corporations have "contributed"
obscene amounts of money towards his inaugural events.
"President-elect Trump’s inaugural committee has smashed fundraising records, racking up more than $200 million in pledges. Donations have come from some of the world’s biggest companies, and top tech CEOs will be front and center at the festivities. Ali Rogin speaks with ethics and campaign finance expert Craig Holman and New York Times technology reporter Cecilia Kang for more."
https://www.pbs.org/newshour/show/leaders-in-tech-ai-and-cryptocurrency-make-big-donations-to-trump-inauguration
Will Donald Trump put to shame Charles Ponzi and Bernie Madoff? June 2022
"The cultists do not care.
They refuse to believe.
They refuse even to hear the evidence, perhaps out of fear that they might believe, and they do not want to risk that. It’s a mindset that is difficult to imagine.
Maybe the best way to understand the zealots who continue to support Donald Trump is to consider for a moment the most infamous of all con men – Charles Ponzi.
....the extent of the power such individuals have over those they con, however, might be evidenced by the fact that some of the people Ponzi scammed continued to ask him to invest their money after he was behind bars."