Trump launches meme coin, apparently makes more than $25 billion overnight
Trump launches meme coin, apparently makes more than $25 billion overnight
www.axios.com
Just a moment...
4 comments
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It hasn’t made him $25 billion. It’s acting more like the market cap of a stock. If there were a mass sale it would drop in price and he wouldn’t make that make since it’d quickly devalue the same way a run on a stock would.
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Yeah. The headline is weird, "apparently" is doing way too much work and needs to be replaced with some other more accurate word. I thought about editing it but I couldn't come up with a clear way of phrasing it. But yes, the true value is somewhere between $0 and $25 billion, probably closer to the lower end.
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It's crazy that he can grift his supporters again and again and only get -more- support in the process...
It’s also, as Mother Jones pointed out, a good way for foreign governments or anyone else who wants to buy influence to bribe him with perfect secrecy, by verifiably buying a bunch of it and bidding the price up.