Trump's "meme coin" collapse loses investors $12B

$100M in trading fees. that's real money

Trump's meme coin made nearly $100 million in trading fees, as small traders lost money - The Economic Times

Entities behind President Donald Trump's crypto coin have accumulated close to $100 million in trading fees in less than two weeks, according to estimates from three blockchain analysis firms, a large windfall from a venture that has seen tens of thousands of small traders lose money.

The meme coin, known as $Trump, was launched by the president on Jan. 17 and quickly surged, reaching a peak of over $14.5 billion in overall market value by Jan. 19, the day before his inauguration. It has ..

Three crypto data firms, including Merkle Science and Chainalysis, analyzed the blockchain, a publicly available ledger that shows all transactions involving $Trump, for Reuters. They estimated that the $Trump token had generated between $86 million and $100 million in trading fees by Jan. 30.

 

it just keeps getting worse...th is damn criminal..buy $75M in trump coins, get charges dropped, get put on board to determine which crypto to buy

Billionaire Who Invested In Trump's Crypto Exempted From Civil Fraud Charges

Justin Sun, billionaire, Tron founder and advisor to US President Donald Trump's cryptocurrency venture World Liberty Financial, was recently granted relief from a civil fraud case filed against him. According to a court filing, Mr Sun and the US Securities and Exchange Commission (SEC) jointly requested that a federal court pause the agency's enforcement action against the cryptocurrency tycoon, allowing them to explore a potential resolution.

The SEC, the top financial regulator in the US, and Mr Sun's attorneys suggested in their letter to the judge that a status report be submitted 60 days following a stay. The SEC charged Justin Sun and three of his businesses — the Tron Foundation Limited, BitTorrent Foundation Ltd. and Rainberry, Inc. — with fraud, market tampering and issuing unregistered securities in March 2023.

Mr Sun, 34, filed a motion to have the case dismissed in March 2024, denying the accusations.

Mr Sun, who invested $75 million in the cryptocurrency token supported by the Donald Trump family, is a divisive figure in the cryptocurrency industry. He has emerged as one of the leading backers of the Trump family-backed World Liberty Financial cryptocurrency project.

 

^ It's hilarious. They're criminals. Scammers, grifters and criminals. "They" being Trump and anyone who associates with Trump.

What's funny is how many pretend-ethical Trumpies will read this and just pretend they didn't.

Trump could rape an innocent woman in the middle of 5th Avenue and his supporters wouldn't care.