title sounds like Trump invested in something and lost but actually this was a grift for Trump to steal money from idiots
Exactly. This was a rug pull, pure and simple.
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.
wrong word, nearly billion stolen from the idiots who put their money into the scam
It’s not theft if it was given.
That’s like, the definition of a scam.
It wasn’t a business, it was a pipeline for bribes. It’s been a success.
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
I don’t believe for a second his family is holding the bag.
Yeah it’s called pump and dump, they probably walked away with most of it
- Create tokenized item with no actual value (Z = 0)
- get people to spend real money on random token.
- collect the money at a high arbitrary value (X)
- Collect the money at a lower, yet still arbitrary value (Y)
- 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.
The Trump crypto value has nothing to do with any economic outlook. It’s the
bribegratuity funnel for the Trump family.It probably crashed as they dumped it. How is this bad for them?
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.
So unshocking!
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.
That’s not who lost money here. Those assholes were out LONG before the rug got pulled on the dummies that bought this garbage.
They weren’t out, they were never in, the coins were just bribes disguised as “investments” into a currency.
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.
Oh no.
Schadenfreude
