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128

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

submitted 3 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 12 points 1 hour ago

[–] JasonDJ@lemmy.zip 50 points 3 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 13 points 1 hour 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 4 points 1 hour ago

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

[–] andyburke@fedia.io 5 points 1 hour ago

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

[–] pinheadednightmare@lemmy.world 14 points 2 hours ago

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

[–] breezeblock@lemmy.ca 1 points 1 hour ago

It’s all grift — all the way down

[–] ilillilillilillililli@lemmy.world 11 points 2 hours ago (1 children)

"I love the poorly educated."

[–] snooggums@piefed.world 3 points 2 hours ago

"I love inflation "

[–] Lucky_777@lemmy.world 21 points 3 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 5 points 1 hour 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.

[–] buddascrayon@lemmy.world 1 points 1 hour ago

You mean Trump's pump and dump?

[–] GreenCrunch@piefed.blahaj.zone 18 points 3 hours ago

Who could have foreseen this?!