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Written by Molly White on 2025-01-20 at 14:42

Newsletter: No, Trump didn’t make $50 billion from his memecoin.

https://www.citationneeded.news/trump-memecoin-valuation/

[#]crypto #cryptocurrency #DonaldTrump #USpolitics #USpol

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Written by Molly White on 2025-01-20 at 14:43

Newspapers’ estimates of the $TRUMP token’s fully diluted value fluctuated wildly from somewhere around $20 billion to around $70 billion, depending on which paper you read and when they published.

This variance perhaps should have been a sign to these reporters that the numbers aren’t real.

[#]crypto #cryptocurrency #DonaldTrump #USpolitics #USpol

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Written by Molly White on 2025-01-20 at 14:43

This is not to downplay the extent to which Trump is grifting his devotees and crypto traders looking to make a buck on memecoin speculation. But it is important that we accurately report on his cons and don’t contribute to misleading crypto hype for the sake of large numbers.

[#]crypto #cryptocurrency #DonaldTrump #USpolitics #USpol

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Toot

Written by Chris Adams on 2025-01-20 at 15:51

@molly0xfff this is going to be a really interesting test of how much liquidity can be generated by state backing. Nobody has had a cryptocurrency before where the idea of funneling in tens of billions of real dollars is a potentially shrewd move - TikTok alone could support that – and I’m wondering when people will feel safe doing thar openly.

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