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Trump’s Cryptocurrency Surges to Become One of the World’s Most Valuable (archive.is)

submitted 5 months ago* (last edited 5 months ago) by zero_gravitas@aussie.zone to c/nottheonion@lemmy.world

11 comments fedilink hide all child comments

Original URL: https://www.nytimes.com/2025/01/19/us/politics/trump-cryptocurrency-surges.html

all 12 comments

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[–] TommySoda@lemmy.world 68 points 5 months ago (1 children)

All I'm gonna say is that with the large number of pump and dump crypto schemes that have happened over the years, if you're still falling for it I have no sympathy for you. Everyone thinks they're gonna be the one to cash out and leave everyone behind whereas most everyone are the ones being left behind.

[–] ikidd@lemmy.world 50 points 5 months ago (1 children)

This is a bribery scheme. It's pretty fucking obvious.

[–] jonne@infosec.pub 14 points 5 months ago (1 children)

It's both. Eventually the value will drop to 0 once Trump is out of office, but in the meantime he'll just use it in the same way the Trump hotel was used in the previous admin.

[–] unexposedhazard@discuss.tchncs.de 10 points 5 months ago* (last edited 5 months ago) (1 children)

Its already down again fyi

[–] jonne@infosec.pub 7 points 5 months ago

Yeah, they're selling off initially, but Trump controls 80% of the currency, so they'll pump and dump it continuously over his presidency. All he needs to do is post some ridiculous thing about making the treasury buy some or whatever and it'll bump right back up again.

[–] BetaDoggo_@lemmy.world 53 points 5 months ago

The most important part to note is that 80% is held in a single wallet. The rug pull potential is high even by crypto standards.

[–] ABCDE@lemmy.world 20 points 5 months ago (1 children)

How do I short it?

[–] Theoriginalthon@lemmy.world 17 points 5 months ago

It's too volatile, it jumped up 10% in 30 seconds then back down 20% in the following couple of minutes. If you like playing with fire go for it

[–] jaggedrobotpubes@lemmy.world 18 points 5 months ago

Most valuable...scam?

I mean, ok.

[–] Gullible@sh.itjust.works 14 points 5 months ago

I’m curious about the dump. If trump were exactly idiot enough, he’d attempt to establish trumpbux as a secondary US currency. It’s hard to say whether he’ll try it.

[–] Alteon@lemmy.world 13 points 5 months ago* (last edited 5 months ago)

If you buy into this..........hahhaahhahahahhahahahHAHAHAHAHAAJHAHJAJAJJAhahhahaha.....you dumb, dumb, dumby dumb person. You are going to loose it all and I will not feel bad at all. This is coming from someone who actually invests in crypto.

Do not buy this coin if you know what's good for you.