Blood loss! Investors attending Trump's dinner were 'sheared' by TRUMP tokens
The Guardian exposed shocking news: Among the 220 people who attended Trump's NFT dinner earlier this year, nearly half suffered losses from purchasing TRUMP tokens, totaling up to $8.95 million! This is not a dinner; it's simply a 'Honeymoon Banquet'.
Who lost the most?
'Big loser' leaderboard:
User 'GAnt' ranks fourth with a loss of $1.06 million, while VIP user 'Meow' also fell, losing $621,000. Most of these investors went on a buying spree after the token launched in January, only to see prices drop further, ultimately emptying their wallets.
The token plummeted:
TRUMP token prices have crashed over 70% from their peak. Many participants initially thought they could profit by riding Trump's popularity but ended up being left holding the bag.
Why the collapse?
Riding the trend trap:
The token was marketed under Trump's name, attracting fans and speculators to follow suit, but there was no direct connection to Trump himself; it was merely 'selling dog meat under a sheep’s head'.
Liquidity crisis:
A large number of tokens are concentrated in the hands of a few major players, making prices easy to manipulate. When big holders sell, retail investors can't escape in time.
Regulatory vacuum:
Tokens associated with celebrities operate in a legal gray area, and project teams are not required to disclose real information, leaving investors to 'jump off a cliff with their eyes closed'.
Personal opinion:
This is a typical cryptocurrency market strategy to 'harvest' investors—using the celebrity's aura to create hype, attracting novices to enter, and then profiting by pumping and dumping. Trump's name is just a signboard; behind the scenes, the major players have already made enough profit and left a mess behind. Ironically, many of the people who lost money are still staunch Trump supporters, making this a tragic reality of 'paying for faith'.
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