#TrumpMarketInsights The TRUMP memecoin broke records ahead of Inauguration Day, eventually reaching a total market cap of over $12 billion.
The virtual currency elites who saw Donald Trump as the savior of crypto are now upset by his recent multi-million dollar meme sale. Investor Ari Paul called it “gouging people for billions”; former Trump associate Anthony Scaramucci said it was “dictator-level corruption”; and former Coinbase Global executive Balaji Srinavasan described it as a “lottery” with no wealth creation.
They are of course right to be wary of the hidden mix in Trump’s meme coin, which combines money-raising, MAGA worship, and tokenomics. This is about a man convicted of fraud whose idea of a last-minute announcement before being inaugurated as the most powerful person in the world was to promote the sale of 20% of a currency with no intrinsic value, minting billions out of thin air and leaving the remaining 80% in the hands of insiders $TRUMP
