Post #4378469

2026-08-04 14:38 UTC

The $TRUMP #cryptocurrency paid huge dividends to #Trump, who promised to be the US’ first #crypto president & received enormous support from the industry. He made nearly $636M in royalty & licensing fees related to “Celebration Coins” last year alone, acc/to his 2025 annual financial disclosure. Flash forward to today: The Trump coin is worth less than $400 million & those who bought in at the top are staring at steep losses of approximately 97%, acc/to crypto analytics platform CoinMarketCap.

Replies (3)

@Nonilex@masto.ai 2026-08-04 14:40

Almost 1 million people lost money on the #Trump #memecoin, racking up a total of $3.8 billion of losses through the end of June, according to research by #crypto analytics firm Nansen cited by NYT. “The #SEC must be willing to enforce the #law even when potential wrongdoers include those with powerful political connections,” the lawmakers wrote in the letter. #criminal #felon47 #fraud #scam https://www.nytimes.com/2026/07/04/us/politics/trump-coin-crypto-investors-loss.html?unlocked_article_code=1.21A.ik_o.oYBQvuWxVK-N&smid=nytcore-ios-share

Open ##4415706
@n1xnx@tilde.zone 2026-08-04 15:04

@Nonilex@masto.ai I'd feel sorry for the fools who were deceived by this blatant and obvious scam by the president, if not for the fact that it was a blatant and obvious scam from the very first moment. Of course, defrauding your gullible cult followers is still fraud, and still merits a trip to the slammer.

Open ##4415709
@PaulWermer@sfba.social 2026-08-04 17:20

@Nonilex@masto.ai But they're collectables! (I think Beanie Babies were a safer bet)

Open ##4415712