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Trump crypto token buyers are down $3.8 billion, Nansen data shows (www.coindesk.com)
submitted 6 days ago by technocrit@lemmy.dbzer0.com to c/technology@lemmy.world
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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.

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[-] JasonDJ@lemmy.zip 106 points 6 days 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.xyz 48 points 6 days 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.world 2 points 5 days 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.

[-] luciferofastora@feddit.org 1 points 5 days ago

Huh, turns out crypto is really good for obscuring payments...

[-] b161 15 points 6 days ago

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

[-] blimthepixie@lemmy.dbzer0.com 31 points 6 days ago

[-] Lucky_777@lemmy.world 31 points 6 days ago

If you knew anything about crypto, you knew this was huge rug pull bait. Win the election, spin up your own coin. The mindless MAGA base buys it up from the election win hangovers then pull the rug.

Easy money.

[-] CannonFodder@lemmy.world 18 points 6 days ago

The rug pull on MAGAts was only icing on the cake. The main purpose of this was for large scale bribes to the Trump family.

[-] Lucky_777@lemmy.world 2 points 4 days ago

100% agree

[-] jaybone@lemmy.zip 22 points 6 days ago

reflecting a broader downturn in the sector.

What sector is that, the money laundering sector?

[-] GreenCrunch@piefed.blahaj.zone 23 points 6 days ago

Who could have foreseen this?!

[-] pinheadednightmare@lemmy.world 20 points 6 days ago

And Trump increased his revenue by 2 billion last year…. Funny how that works.

[-] ilillilillilillililli@lemmy.world 14 points 6 days ago

"I love the poorly educated."

[-] andyburke@fedia.io 7 points 6 days ago

griftin'.... griftin'.... griftin' the night away....

[-] cideyav138@lemmy.ml 5 points 6 days ago

I thought this was just a mechanism for Trump to take bribes?

I'm sure there are idiots who tried to play the pump n dump and some MAGAs who deserve whatever comes to them, but I bet a good number of people who "lost money" were insiders recruited to pump the price for political favors.

[-] breezeblock@lemmy.ca 5 points 6 days ago

It’s all grift — all the way down

[-] buddascrayon@lemmy.world 4 points 6 days ago

You mean Trump's pump and dump?

[-] jobbies@lemmy.zip 1 points 6 days ago

I mean, to be honest its their own bloody fault.

this post was submitted on 05 Jul 2026
275 points (100.0% liked)

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