Trump's embrace of meme coin sours mood in crypto industry
apnews.com
apnews.com
I think there's a lot of things to happen yet in this space. People like to talk about pump/dump and rugpull but the simpler truth to me is that selling at any time in a belief your meme coin has higher value than you bought at, and you believe you want to crystallise that value into fiat currency or some other value proposition, does not necessarily mean you think the value will decline, but in the case of $TRUMP I think we do all believe its innate value over time has a 4 year life. So I would expect most of the buying and selling to terminate inside 4 years and I would expect the cynicism and concern here, is when the current 80% holder decides to sell out of it. If he does it early in his presidency, is that different to doing it near the end?
I think it is very likely he has no intent to sell. He doesn't need $16b he needs a lower figure, and he will secure that simply by the existence of the $16b, in some manner I dont entirely understand, and then its value is unrelated to the coin, and stands. He'll acquire real goods and property or rights over them, collateralise on that, and the secure an increase in value on them. The coin will only be guarantor over the life of some financial transaction.
If his $16b can secure $10b of external worth, which in turn increases to $11b, he winds up with $1b of untainted worth, independently of the $16b, he can be free of the $10b, keep the $1b and he's done. He won. "I didn't sell" can be true.
Tax.. well at his age, thats his kids problem.
The word "meme" in there is entirely redundant. Practically all coins are made to enrich their creators.
Well, I mean, all of them. But you don't want to be quite _this_ obvious about it.
The other grifters are simply annoyed that the grifter-in-chief is being a bit blatant about the grift, which will hurt them all when it implodes.