Trump launches new crypto venture, takes profit early, leaving supporters broke

[LastLiberal in PalmSprings]

source: msn news

Donald Trump, from inside the White House, has pushed a new crypto investment. This time, it’s dressed up as a “crypto treasury” firm. But just like the last two times, his base is paying the price.

The setup is simple: Trump cashes out early. Everyone else eats the loss. According to The Wall Street Journal, the strategy looks eerily familiar to anyone who’s watched his past financial ventures blow up in supporters’ faces.

The playbook hasn’t changed.
* * *
Now comes a new pitch: a “crypto treasury” company modeled after what Michael Saylor pulled off with MicroStrategy, now renamed Strategy. Saylor’s model is simple: use company cash, debt, and equity to buy bitcoin nonstop. It now holds more than 3% of all bitcoin in circulation, worth $70 billion.

Trump’s family saw the hype and copied the structure, but swapped out bitcoin for a token called WLFI. The coin comes from World Liberty Financial, a company co-founded by Trump and his sons. As part of the fundraising, World Liberty took a stake in crypto firm Alt5 Sigma. The campaign is trying to raise $1.5 billion to buy WLFI tokens. Eric Trump, Trump’s son, now sits on Alt5’s board.

WLFI is scheduled to go live in September. But it doesn’t offer ownership, profits, or anything concrete. It gives holders just 5% of the vote in the governance of USD1, a dollar-backed stablecoin controlled by World Liberty. That’s it.
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I should feel sorry for all the T***p supporters who are getting burned by his schemes, but I just can't seem to find my sympathy bag. The only people I empathize with are their children. They didn't ask to be born to crazy parents who place their fanatic loyalty to a proven con man ahead of their obligations to their families.

[no_hypocrisy]

1. There'd be an outcry and investigations if the same ruse were done

using gold, to inflate the value until it could be sold.

My question: Is this new bitcoin being subsidized by the Saudis and/or other countries with cash?

[Irish_Dem]

4. Yes most likely a money laundering tool.

Our enemies sending huge amounts of cash to Trump in return for many favors.

[oasis]

2. Crypto, gypto, klepto.

[Bernardo de La Paz]

3. Melania's "coin" debuted over $11 dollars. Now worth about 19 cents. Trump coin debuted over $46, now $8.33. . . . nt

[John1956PA]

5. Trump's company abandoned the Truth Social coin two days after its launch.

Trump's company did not collect a massive profit on $TRUTH (only about $2M), but it was a dry run for future launch and ditch scams. The meme coin $TRUTH was launched on November 21, 2024. Two days later, Trump's company Truth Social liquidated its holdings in the coin. Interestingly, the coin price hit a spike of several magnitudes on May 29 and immediately fell back to its regular value of next to nothing. Someone scarfed up a major profit at that time.

[BoRaGard]

6. "Ha ha. Suckers and losers. Ha ha." - Krasnov (r-felon/rapist/golf cheat)

republicon "family values" suck exhaust pipe fumes

[joshdawg]

7. "Pyramid" scheme, plain and simple.

Only something like trump would engage in that type of money-making scheme.
trump just needs to disappear, along with his "cabinet" of criminals.
jmho

[mdbl]

8. This shit used to be illegal

in the old days of justice.

[Yo_Mama_Been_Loggin]

9. Another pump and dump

[Linda ladeewolf]

10. How many more times will they fall for it?

[rickyhall]

11. The president who steals from his people. George, can you haunt this guy, at least?

[hatrack]

12. Anybody who is SO FUCKING STUPID that they would give this guy their money deserves destitution . . . .

Because they're (A) idiots and (B) enriching Turd Tyrant and his endless stupidity as he destroys this country.

They deserve dinners of sparrows roasted on coat hangers over stolen Sterno cans while living under a highway overpass.

[Uncle Joe]

13. I'm wondering as to who is everyone else that took the hit?

Were there that many average income individuals involved or was it primarily oligarchs that knowingly paid the price as a backdoor means to bribe *rump because of fear or favor?

Thanks for the thread LastLiberal in PalmSprings