Trump Family’s Crypto Empire Collapses: Nearly $1 Billion Wiped Out as World Liberty and Memecoins Crash

Comments

• reksas@sopuli.xyz ⁨10⁩ ⁨months⁩ ago

  wrong word, nearly billion stolen from the idiots who put their money into the scam

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  • Lemmyoutofhere@lemmy.ca ⁨10⁩ ⁨months⁩ ago

    It’s not theft if it was given.

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    • vinceman@lemmy.blahaj.zone ⁨10⁩ ⁨months⁩ ago

      That’s like, the definition of a scam.

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• CompactFlax@discuss.tchncs.de ⁨10⁩ ⁨months⁩ ago

  I don’t believe for a second his family is holding the bag.

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• Avicenna@programming.dev ⁨10⁩ ⁨months⁩ ago

  title sounds like Trump invested in something and lost but actually this was a grift for Trump to steal money from idiots

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  • YiddishMcSquidish@lemmy.today ⁨10⁩ ⁨months⁩ ago

    Exactly. This was a rug pull, pure and simple.

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  • UnrepententProcrastinator@lemmy.ca ⁨10⁩ ⁨months⁩ ago

    Which is sad in a way. It’s the role of a society to protect the weak against predatory tactics.

    And yes in this case the criminal in question here is the one appointing the leadership of regulatory bodies responsible for that protection.

    Thw US needs to create smaller entities with this mandate since the federal government doesn’t dot their job anymore.

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• prole@lemmy.blahaj.zone ⁨10⁩ ⁨months⁩ ago

  Yeah it’s called pump and dump, they probably walked away with most of it

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• Foni@piefed.zip ⁨10⁩ ⁨months⁩ ago

  It wasn’t a business, it was a pipeline for bribes. It’s been a success.

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  • phoenixz@lemmy.ca ⁨10⁩ ⁨months⁩ ago

    Also for trump and co to get rich quick. I imagine most people that lost money are magats. Not that i cate about them, they got what they went for, but this was definitely more than just a pipeline

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• Rentlar@lemmy.ca ⁨10⁩ ⁨months⁩ ago

  The Trump crypto value has nothing to do with any economic outlook. It’s the bribe gratuity funnel for the Trump family.

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• ramble81@lemmy.zip ⁨10⁩ ⁨months⁩ ago

  1. Create tokenized item with no actual value (Z = 0)
  2. get people to spend real money on random token.
  3. collect the money at a high arbitrary value (X)
  4. Collect the money at a lower, yet still arbitrary value (Y)
  5. Enjoy X+Y-Z profits

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• 4am@lemmy.zip ⁨10⁩ ⁨months⁩ ago

  It probably crashed as they dumped it. How is this bad for them?

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• cronenthal@discuss.tchncs.de ⁨10⁩ ⁨months⁩ ago

  Going anywhere near any of Trump’s businesses is a guarantee for losses and regret. In Trump’s world there are only very few winners, basically only the ones paying for pardons. And it’ll be interesting to see if even this is worth it in the long run.

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• UnculturedSwine@lemmy.dbzer0.com ⁨10⁩ ⁨months⁩ ago

  This fake ass economy will only stay afloat for as long as the plutocrats can stomach setting their cash on fire. One by one each pillar will fall and then it will be time to get the guillotine.

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  • UnspecificGravity@piefed.social ⁨10⁩ ⁨months⁩ ago

    That’s not who lost money here. Those assholes were out LONG before the rug got pulled on the dummies that bought this garbage.

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    • DragonTypeWyvern@midwest.social ⁨10⁩ ⁨months⁩ ago

      They weren’t out, they were never in, the coins were just bribes disguised as “investments” into a currency.

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• MyOpinion@lemmy.today ⁨10⁩ ⁨months⁩ ago

  So unshocking!

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• HubertManne@piefed.social ⁨10⁩ ⁨months⁩ ago

  does it matter. weren’t those setup so they got a slice of every transaction? If I that is the case and I understand it right then any activity is essentially money to them.

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• the_q@lemmy.zip ⁨10⁩ ⁨months⁩ ago

  Oh no.

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• Successful_Try543@feddit.org ⁨10⁩ ⁨months⁩ ago

  !tja@feddit.org

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• Hirom@beehaw.org ⁨10⁩ ⁨months⁩ ago

  Schadenfreude

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• J52@lemmy.nz ⁨10⁩ ⁨months⁩ ago

  ,haha, who would’ve thought…

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