THREAD: So what did The NYT learn as it dug deeper into the $Trump family crypto play? Here is a look at some of the new things we turned up. First, here a free link to the story David Yaffe Bellany and I posted this morning. https://www.nytimes.com/2025/01/25/us/politics/trumps-crypto-venture-divides-the-industry-he-aims-to-support.html?unlocked_article_code=1.r04.gjsf.lSovxP_CKvBU&smid=url-share
Comments
it's a total scam.
It's a mechanism to gather bribes.
it's technology based corruption and fraud. right out in the open.
Call it what it is. Don't give it credibility by calling but a Venture.
Trump grift level: NINJA.
Again.
- A $TRUMP coin IS actually more like a collectible Trump baseball card than any useful financial investment, and many of the small buyers know that (some don't.)
- Its usefulness for "investment" is a fiction allowing bribers to pretend purchases aren't bribes.
and while there are a dozen or so systems that did real innovation, *I* can't tell most of the rest from Beanie Babies except that the latter are a nice $5 kid/dog toy.
Well, there may be a limited supply of individual cryptocurrencies, but there is clearly zero barrier to entry for new cryptocurrencies and hence an unlimited supply of them.
Devaluing them all
Caveat emptor
nothing…He is immune …and he will pardon any of his cronies…so they are immune too….
Ahwellnevertheless.
You're Sayin' That
The President Fucking His Followers
Out of Their Dumb-Ass Rube Money
With A Pump And Dump Scam
Is Bad?
🤔
in spite of the good folks working on a few improvements to not-great ideas.
And thanks for sharing!
"by one estimate, the launch of $Trump generated $58 million in fees for the Trump family in less than a day"
It looks just like someone was market making, could've been anybody, or am I missing something?
(In fairness I realize *this* was primarily a crypto industry piece and the ethical disaster piece may come in a follow up piece.)
Thanks for your work and the link!