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.

 

People went crazy when Clinton allowed political donors sleep in the Lincoln bedroom. Trump is blowing the doors off all previous presidents pushing the envelope.

 

Does Lundardi have a bracketology on this so we can see who the First 4 losers are?

 

Who needs a PAC with all those rules when you have meme coins?

 

The first 4 losers are always the most recent 4 purchasers ... thats how MLM scams work

 

He is literally selling access to the White House for personal gain.

The most interesting thing about this is how all the MAGAs will just scroll on by. As we well know by now, they tolerate the un-American and criminal acts of their criminal. Because, like Trump, they're all patriotic n stuff.

Sad times.

 

No, they're all losers. Was wondering who might be on the outside looking in. If you're at 221-225 and only the top 220 get in...

 

Well yes anyone still standing on the rug when its pulled will be a loser

 

I guess we're just going to completely eliminate the line between access to the president through campaign donations and access to the president through directly lining his pockets then? All bets are off now?

 

Literally and openly selling access to the president ... I mean, there is no other way to look at this.

 

well some people love their Filet-O-Fish sandwich

 

As a reminder, the House Republicans on the Oversight Committee were very upset that Hunter Biden sold art for his own profit. I wonder what they think of Donald Trump profiting on access to himself (I don't actually wonder this- they will be completely silent).

 

All the January sixers should be the first to get invited.

 

LOL, it clearly makes MAGA feel sick to tolerate the corruption - can't you tell by the funny Filet-of-Fish jokes and the way they scroll right past and pretend it's not happening?

My biggest disappointment or complaint, at this point, isn't the Trumpy criminality that so much of America tolerates and enables. It's that since we all know how posterity works, and how it is (even now) impossible to remember all of the Trump criminality ....... these MAGA toleraters and enablers of this blatant, preposterously un-American criminality will, in the future, get to pretend that it didn't happen, or that they didn't side with this vileness. (Hell, they pretend it isn't happening now.)

Trying not to label or negatively characterize an entire group. But how should we feel about a group that enables and tolerates this?