Crypto Meme Coin

Bit of Robert Reich running the numbers on Crypto Memecoin for 2025. Trump came out ahead and everyone else lost. Care to buy another bottle of “Doctor Good” from Tr__p. It is kind of hard to understand how a president of future president could hoodwink his constituents. But he did.

“‘Once a crypto skeptic, Mr. Trump embraced the profit-making opportunity of digital currencies in 2024, while he was running for president. He and his sons founded a crypto start-up called World Liberty Financial, which soon began selling a coin called $WLFI that has also declined sharply.

Three days before his inauguration, Mr. Trump unveiled a second Trump-branded investment — the $TRUMP memecoin, a type of novelty currency with little practical value.

‘It’s time to celebrate everything we stand for: WINNING!” Mr. Trump wrote on social media. “Join my very special Trump community. GET YOUR $TRUMP NOW!’ But that turned out to be bad advice.

Most crypto transactions are publicly visible, recorded on a digital ledger called the blockchain. That allows analysts to trace purchases of digital coins from individual crypto accounts, known as wallets. Nansen’s data shows that, as of the end of June, 988,905 buyers of the $TRUMP memecoin have lost money, representing roughly two out of every three buyers.

Cumulatively, these 988,905 wallets have lost a total of $3.81 billion, including buyers who have held on to their stash and recorded paper losses, according to Nansen. The coin was trading at $1.76 as of Friday, down 97 percent from its peak price of $75.35.”

“Nearly a Million Investors Lost a Total of $3.8 Billion on Trump Crypto Coin,” The New York Times