Womp Womp!! Crypto Bros Mad - Shitstain's Meme Coins Taking Money THEY Wanted To Scam

[hatrack]

EDIT

Nic Carter was biting into a cookie at the Crypto Ball, the digital asset industry’s star-studded celebration of a president who had assured them he would support the nascent sector, when he learned that Donald Trump was launching a cryptocurrency named after himself. Suddenly, the party atmosphere took on a sour note. “I was pretty dismayed by it,” Carter, a Trump voter and general partner at Castle Island Ventures, a venture capital firm that invests in crypto start-ups, said in a phone interview Friday. “It cheapens his embrace of the crypto industry.”

Trump’s new coin, $TRUMP, is an example of what insiders call a meme coin — a digital token traded largely to capitalize on jokes or online enthusiasm rather than as a practical financial asset. It had a market capitalization of $5.8 billion late Friday, a sizable worth for a week-old project. But Carter fears the presidential crypto coin makes Trump’s promises to ease regulation on the sector appear self-serving and creates conflicts of interest. “It makes it look like quid pro quo,” he said.

EDIT

There’s also disappointment from some who, like Carter, think his launch of the $TRUMP meme coin — followed days later by $MELANIA, named for his wife — amplifies one of the sillier and sometimes scammier aspects of the scandal-associated industry. Meme coins are generally much more volatile than widely held crypto tokens such as bitcoin, and more vulnerable to hacks and fraud. Many are based on online jokes, like $PNUT, named for Peanut the Squirrel, an Instagram-famous pet euthanized by the New York State Department of Environmental Conservation last year.

EDIT

A Wall Street Journal editorial Wednesday said Trump’s and his wife’s coins create “flashing-red political risks and ethical conflicts,” because entities with interests before the federal government might try to influence the president by saying they intend to buy, or have bought, $TRUMP tokens. The White House press office did not respond to a request for comment. When Fox News this week asked David Sacks, a tech investor and Trump’s “artificial intelligence and crypto czar,” if the Trump coin creates a conflict of interest, he said no. Sacks instead described it as a “collectible,” like a baseball card or a stamp. “I’m not a regulator,” he said, “but my personal opinion is that it’s totally fine.”

EDIT

https://www.washingtonpost.com/technology/2025/01/25/trump-coin-crypto-melania/

[OMGWTF]

1. $trump, like a strumpet.

[hedda_foil]

3. And Smelania. They really should switch the names with each other.

[Phoenix61]

2. Makes it LOOK like quid-pro-quo?!?

Like he didn’t know that’s what it was.
On edit
When the actual fuck has that orange POS EVER done ANYTHING that wasn’t self-serving!

[SWBTATTReg]

4. As I mentioned in earlier posts, avoid investing in this ... these are NOT investment grade 'coins' or even

near investment grade. They are just pieces of metal that tRUMP and his wife stamped w/ some crap, and they call it 'investment grade' I suppose. Any investment advisor advising you to buy such MEME coins is not worth their investment mettle, so run away from them immediately if they advertise or say to buy these MEME coins.

And I'm not the only person saying this...I'm sure that they are tons of other people saying don't buy them for an investment.

And I thought the president was supposed to avoid conflicts of interest like this, but he's obviously not, he's using the power of the presidency and the WH to advertise his junk for sale. Junk.

[Initech]

5. If you're stupid enough to give a billionaire free money for a stupid picture...

IMO, you deserve to lose it.