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lemmy - Link to source

Trump Family’s Crypto Empire Collapses: Nearly $1 Billion Wiped Out as World Liberty and Memecoins Crash

Trump Family’s Crypto Empire Collapses: Nearly $1 Billion Wiped Out as World Liberty and Memecoins Crash - 𝐓𝐇𝐄 𝐃𝐀𝐈𝐋𝐘 𝐆𝐋𝐈𝐓𝐂𝐇

Trump crypto empire falls faster than bitcoin
Shadrack (The Daily Glitch)
#technology
in reply to Chris Remington

CompactFlax
lemmy - Link to source
CompactFlax
• •
I don’t believe for a second his family is holding the bag.
in reply to Chris Remington

UnculturedSwine
lemmy - Link to source
UnculturedSwine
• •
This fake ass economy will only stay afloat for as long as the plutocrats can stomach setting their cash on fire. One by one each pillar will fall and then it will be time to get the guillotine.
in reply to UnculturedSwine

UnspecificGravity
piefed - Link to source
UnspecificGravity
• •
That's not who lost money here. Those assholes were out LONG before the rug got pulled on the dummies that bought this garbage.
in reply to UnspecificGravity

DragonTypeWyvern
lemmy - Link to source
DragonTypeWyvern
• •
They weren't out, they were never in, the coins were just bribes disguised as "investments" into a currency.
in reply to Chris Remington

HubertManne
piefed - Link to source
HubertManne
• •
does it matter. weren't those setup so they got a slice of every transaction? If I that is the case and I understand it right then any activity is essentially money to them.
in reply to Chris Remington

cronenthal
lemmy - Link to source
cronenthal
• •
Going anywhere near any of Trump's businesses is a guarantee for losses and regret. In Trump's world there are only very few winners, basically only the ones paying for pardons. And it'll be interesting to see if even this is worth it in the long run.
in reply to Chris Remington

Rentlar
lemmy - Link to source
Rentlar
• •
The Trump crypto value has nothing to do with any economic outlook. It's the ~~bribe~~ gratuity funnel for the Trump family.

Supreme Court limits scope of anti-bribery law

The Supreme Court on Wednesday ruled that a federal anti-bribery law does not make it a crime for state and local officials to accept a gratuity for acts that they […]
Amy Howe (SCOTUSblog)
in reply to Chris Remington

prole
lemmy - Link to source
prole
• •
Yeah it's called pump and dump, they probably walked away with most of it
in reply to Chris Remington

Foni
piefed - Link to source
Foni
• •
It wasn't a business, it was a pipeline for bribes. It's been a success.
in reply to Foni

Phoenixz
lemmy - Link to source
Phoenixz
• •
Also for trump and co to get rich quick. I imagine most people that lost money are magats. Not that i cate about them, they got what they went for, but this was definitely more than just a pipeline
in reply to Chris Remington

4am
lemmy - Link to source
4am
• •
It probably crashed as they dumped it. How is this bad for them?
in reply to Chris Remington

ramble81
lemmy - Link to source
ramble81
• •
  1. Create tokenized item with no actual value (Z = 0)
  2. get people to spend real money on random token.
  3. collect the money at a high arbitrary value (X)
  4. Collect the money at a lower, yet still arbitrary value (Y)
  5. Enjoy X+Y-Z profits

Trump never put his money in any of it. He created a random token out of thin air and people willing threw money at it.

This entry was edited (2 days ago)
in reply to Chris Remington

Avicenna
lemmy - Link to source
Avicenna
• •
title sounds like Trump invested in something and lost but actually this was a grift for Trump to steal money from idiots
in reply to Avicenna

ForeverComical
lemmy - Link to source
ForeverComical
• •

Which is sad in a way. It's the role of a society to protect the weak against predatory tactics.

And yes in this case the criminal in question here is the one appointing the leadership of regulatory bodies responsible for that protection.

Thw US needs to create smaller entities with this mandate since the federal government doesn't dot their job anymore.

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