• runiq@feddit.org
    12·
    19 hours ago

    You gotta be fucking kidding me. This is influence laundering, and it is so blatant that it’s insulting.

    Again, you gotta be fucking kidding me.

  • originalucifer@moist.catsweat.com
    52·
    1 day ago

    remember when presidents used to have the restraint, composure, responsibility and respect for the office to not make money during their presidency… blind trusts… not hiring your fucking family into the white house, etc.

    pepperidge farm remembers

    • CharlesDarwin@lemmy.worldEnglish
      12·
      24 hours ago

      That’s all so quaint. The stupid base in MAWA think they’ll somehow benefit from this smash-and-grab “presidency”, even as they spiral further down in quality of life. I’m sure the Grievance Industrial Complex will keep them quite distracted from how we are creating even more billionaires, which means all that money is flowing upwards, and away from the MAWA base.

  • just_another_person@lemmy.world
    39·
    24 hours ago

    This is an open invite for influence, plain and simple. A tip jar for Trump open to enemy nations, dictators, and billionaires to buy favors.

  • dhork@lemmy.worldEnglish
    33·
    24 hours ago

    So, the trading volume is already in excess of its market cap, even though is has only been traded for less than 24 hours, and only 20% of tokens are released? That means that people are trading it actively, multiple times in one day.

    I bet when you dig into the Smart Contract, you will find a small transaction fee going back to the founders with every single transaction. So if a foreign power wants to send money to Trump, all they have to do is structure some shell companies to trade it back and forth. A fraction of a cent goes to the founders each time, but if you buy 50 million dollars worth, and have bots trade bits of it 500 million times between accounts you own, you can feed Trump millions of dollars in a fashion that is untraceable by anyone but you.

    And, since you have just created billions in volume out of nothing, that might encourage more marks investors to pay attention, at at the end of your exercise you could very well end up with more dollars than you spent on the coin in the first place, all funded by retail crypto investors with severe FOMO.

    I’m curious, though, because the typical end game is for the founders to sell everything quickly to cause the price to tank, then ghost everyone. They can’t do that with this coin, because Donald Trump will not be disappearing anytime soon. But maybe this is his insurance policy against impeachment – he can just fly to Russia and rug-pull $TRUMP from the plane, over Starlink.

    • jonne@infosec.pub
      7·
      20 hours ago

      You don’t even need the smart contract, just sell the premined coins in a few days/weeks and you’re done, classic pump and dump.

      I guess the advantage of it being a crypto coin is that it should be easy to map where the money is coming from and when the original wallets start selling.