This Is Way Worse Than Hunter Biden's Paintings
Rug pulling billions of dollars in meme coins the weekend before inauguration is wild!
Why this story matters: Meme coins give cryptocurrency a bad name because a meme coin is an art hustle like Hunter Biden’s paintings being worth $1 million. When the cryptocurrency community was told Trump was the cryptocurrency President, this is not what they had in mind. Every American should have a problem with what went down this weekend, a small group of people are making millions and billions from what some consider a Ponzi scheme.
Thanks - Marc Palasciano
This is what rug pulling $30 billion out of a crypto meme coin at once looks like.
See that red candle stick going down?
If the Stock Market did that, all hell would break loose.
As A Reminder
I’m not on any political team and I’ve been that way since I started my journalism. Most other journalists have contradicted themselves in that time frame because they latched their brand onto a political name and team because that’s how they make a living.
Here’s 45 seconds from my very first video from October 2023, I made this specifically to be able to point back to where I started.
I’m on Team humanity, I’m lable-less, I’m self funded, I answer to nobody.
I’m censored so severely that it’s impossible for me to make money or grow and I’m still out here speaking up and producing content. I’ve resorted to going to public places with my T-Mobile signs and flyers to work around my censorship, I’m doing everything within my power to use my free speech to tell my story.
I tell you all this to make it clear that I’m speaking up for everyone.
Nobody can tell me I didn’t try my hardest to speak up.
These picture are all from different days, I wouldn’t have to do this if I wasn’t censored.
Trump & Melania Meme Coins
This is next level grifting no matter how you want to spin it.
Let me tell you the opposite of what this would be - a Hunter Biden art exhibit the weekend before Biden was inaugurated and the Biden family made $60 billion in one weekend.
The easiest way to think of a meme coin is it being a digital piece of art but a lot of them - Trump’s meme coin has 1 billion total coins with 200 million in circulation today.
What Went Down
On Friday January 17th, there was a Crypto Ball that wasn’t officially tied to the inauguration but it was in honor of Trump’s Inauguration and included rappers who used to hate Trump like Snoop, Rick Ross, Nelly, Souja Boy, and the attendees were mostly Gen Z and Conservative.
I’d be willing to bet NDAs were required to keep this quiet before the event because it came out of left field for the cryptocurrency community and that’s very unusual.
Simultaneously on Friday night, a Trump meme coin tied to the Trump family was launched.
I’ll provide a few facts and simplify what happened.
This is President Trump’s meme coin
80% of the supply is owned by him and whatever insiders there are
$8 billion was pumped in very quickly
By the next morning on Saturday, it shot up to a high of $70 billion
On Sunday afternoon $30 billion was pulled out quickly when a Melania meme coin was released
Of course there’s a lot more to it and you can easily find more details of what happened on X, but the above bullet points are enough for me to say this is absolutely ridiculous for a President to do before his inauguration.
Who knows where the money came from, I wouldn’t be surprised if it’s taxpayer money we sent to Ukraine or Israel.
Some people call meme coins Ponzi schemes because most meme coins and NFTs have been Ponzi schemes.
My guess is, these cryptocurrency ventures from the Trump family are heavily influenced by Barron Trump and his 20 year old buddies - Barron Trump’s friends probably made more money in the last weekend than you will in your lifetime.
The American Middle Class is about to get wrecked while the rich and wealthy prosper.
Interesting Evidence
Here’s a video from Nick O’Neil, a Crypto & NFT CEO.
I’ve seen this guy in video skits being an obnoxious crypto bro but his videos from last night caught my attention. Elon’s X is the best place to study what’s going on around the world, and especially in American conservative politics.
Nick is the CEO of BoDoggosENT focused on NFTs and crypto and he made most of his millions in 2022 with NFTs.
Said differently, Nick made most of his millions scamming people who fell for NFTs.
As a reminder, a lot of people bought into NFTs 2020 to 2022 and then learned the value of their digital art was $0 or pennies in 2023.
It’s wild how celebrities got away with hustling their fans with crypto scams, almost every big name Hollywood celebrity hustled America with crypto during 2020 to 2022.
I exposed T-Mobile CEO John Legere’s NFT scam with DJ Aoki
Exposing this on X back in September 2023 introduced me to what shadow-banning was because billionaires are protected from being exposed by peasants like me.
Details About Trump’s Meme Coin
I asked Elon’s xAI Grok to tell me about Trump’s meme coin.
Here’s the answer:
The Trump Meme Coin, officially known as $TRUMP, was launched by President-elect Donald Trump just days before his inauguration in 2025, creating a significant stir in the cryptocurrency and meme coin markets. Here's an overview based on available information:
Launch and Market Reaction:
$TRUMP was introduced on January 17, 2025, and was minted on the Solana blockchain. It experienced an explosive growth, with its value surging by over 300% within hours of its launch, reaching a market cap of $8 billion shortly thereafter. By January 19, 2025, its market cap had soared to $67 billion, showcasing the immense speculative interest it garnered.
Structure and Ownership:
The coin's supply is capped at 1 billion tokens, with 200 million available at launch and the rest to be released gradually over three years. A significant aspect of $TRUMP is that CIC Digital LLC, an affiliate of the Trump Organization, along with Fight Fight Fight LLC, collectively own 80% of the coin's supply. This ownership structure raises questions about the potential for insider trading and the coin's alignment with political interests.
Purpose and Political Implications:
Marketed as a "piece of history," $TRUMP is described as a way for supporters to celebrate Trump's leadership and resilience, particularly referencing the assassination attempt on him in July 2024. However, the official website and announcements emphasize that the coin is not intended as an investment opportunity or political donation but rather as an expression of support for Trump's ideals and beliefs. Despite this disclaimer, the coin's rapid rise in value indicates strong speculative trading.
Ethical and Regulatory Concerns:
The launch of $TRUMP has sparked ethical discussions due to the potential conflict of interest as Trump prepares to take office, promising a pro-crypto agenda. Critics argue that this move could allow foreign governments or special interests to influence Trump directly through investments in the coin, potentially violating the foreign emoluments clause of the Constitution. The involvement of Trump's businesses in such a high-profile cryptocurrency venture before his second term has been described as one of the most profound conflicts of interest in modern presidential history.
Community and Market Sentiment:
The introduction of $TRUMP has been met with a mix of enthusiasm from crypto enthusiasts and skepticism from others. Some see it as a savvy move to leverage Trump's brand into the crypto space, while others view it as a potentially dangerous precedent for mixing personal business with public office. The coin has also led to discussions on platforms like X, where users share insights, investment tips, and express amusement or concern over its rapid valuation increase.
Broader Impact:
The launch of $TRUMP has not only affected the crypto market by adding a new meme coin with significant backing but has also highlighted the intersection of politics, celebrity, and cryptocurrency. It underscores the volatile and speculative nature of meme coins, where value is driven more by community interest, social media hype, and political affiliations than by traditional economic metrics.
In summary, the Trump Meme Coin ($TRUMP) represents a unique blend of political branding and cryptocurrency speculation, raising questions about ethics, regulation, and the future of political figures leveraging their influence in new digital economies.
EFT seems transparent to me as strictly gambling at fiber optic speed, with the house having a massive advantage. The current world of "art" is similar, largelybased on fad and nothingness, but it is slower moving. A person can't work in EFTs without automated trading algorithms that could cut the losses. Don't go there with money that you wouldn't literally burn.
By the way, I heard that a whole bunch of Hunter Biden's paintings in storage burned up in California. Wonder how they will be assessed by insurance. Timing.