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109

Trump crypto token buyers are down $3.8 billion, Nansen data shows (www.coindesk.com)

submitted 2 hours ago by technocrit@lemmy.dbzer0.com to c/technology@lemmy.world

13 comments fedilink hide all child comments

The TRUMP token is down 96% from its peak, and 85% of secondary market wallets for WLFI are underwater, reflecting a broader downturn in the sector.

top 13 comments

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[–] blimthepixie@lemmy.dbzer0.com 6 points 31 minutes ago

[–] andyburke@fedia.io 4 points 34 minutes ago

griftin'.... griftin'.... griftin' the night away....

[–] buddascrayon@lemmy.world 1 points 7 minutes ago

You mean Trump's pump and dump?

[–] breezeblock@lemmy.ca 1 points 3 minutes ago

It’s all grift — all the way down

[–] JasonDJ@lemmy.zip 39 points 2 hours ago (2 children)

3.8 Billion Dollars doesn't disappear. Saying that the buyers "lost" 3.8 Billion Dollars is only telling half the story, and IMO the least important half.

Buyers spent 3.8 billion dollars on a coin that is worthless. So who received the 3.8 billion dollars? Most of it went to the people who sold the coin originally.

In other words, Trump fleeced his base. Again.

[–] flamingo_pinyata@sopuli.xyz 5 points 39 minutes ago

I'm not sure he actually fleeced the big buyers. One of the main "problems" in paying a bribe is how to present the payment as something legitimate.

If you can maybe just innocently "invest" in some crypto scheme. Totally legitimate investment, just so happened it failed, oh well.

[–] b161@lemmy.blahaj.zone 3 points 28 minutes ago

Just like the amount the working class “lost” during covid was exactly the same amount that the ruling class “earned”.

[–] pinheadednightmare@lemmy.world 11 points 1 hour ago

And Trump increased his revenue by 2 billion last year…. Funny how that works.

[–] ilillilillilillililli@lemmy.world 10 points 1 hour ago (1 children)

"I love the poorly educated."

[–] snooggums@piefed.world 3 points 1 hour ago

"I love inflation "

[–] Lucky_777@lemmy.world 20 points 2 hours ago (1 children)

If you knew anything about crypto, you knew this was huge rug pull bait. Win the election, spin up your own coin. The mindless MAGA base buys it up from the election win hangovers then pull the rug.

Easy money.

[–] CannonFodder@lemmy.world 1 points 5 minutes ago

The rug pull on MAGAts was only icing on the cake. The main purpose of this was for large scale bribes to the Trump family.

[–] GreenCrunch@piefed.blahaj.zone 18 points 2 hours ago

Who could have foreseen this?!