The TRUMP token is down 96% from its peak, and 85% of secondary market wallets for WLFI are underwater, reflecting a broader downturn in the sector.

The TRUMP token is down 96% from its peak, and 85% of secondary market wallets for WLFI are underwater, reflecting a broader downturn in the sector.

  • JasonDJ@lemmy.zipEnglish
    96·
    1 day ago

    3.8 Billion Dollars doesn’t disappear. Saying that the buyers “lost” 3.8 Billion Dollars is only telling half the story, and IMO the least important half.

    Buyers spent 3.8 billion dollars on a coin that is worthless. So who received the 3.8 billion dollars? Most of it went to the people who sold the coin originally.

    In other words, Trump fleeced his base. Again.

    • flamingo_pinyata@sopuli.xyzEnglish
      441·
      1 day ago

      I’m not sure he actually fleeced the big buyers. One of the main “problems” in paying a bribe is how to present the payment as something legitimate.

      If you can maybe just innocently “invest” in some crypto scheme. Totally legitimate investment, just so happened it failed, oh well.

      • Einskjaldi@lemmy.worldEnglish
        2·
        2 hours ago

        It’s just a funny coincidence that people who bought scam coins from them also happened to be very likely to have billions of government related contracts.

    • b161@lemmy.blahaj.zoneEnglish
      14·
      1 day ago

      Just like the amount the working class “lost” during covid was exactly the same amount that the ruling class “earned”.