this post was submitted on 05 Jul 2026
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281
Trump crypto token buyers are down $3.8 billion, Nansen data shows (www.coindesk.com)
submitted 3 weeks ago by technocrit@lemmy.dbzer0.com to c/technology@lemmy.world
19 comments fedilink hide all child comments
 

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.

top 19 comments
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[–] JasonDJ@lemmy.zip 109 points 3 weeks ago (2 children)

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 3 weeks ago (2 children)

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 3 weeks 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 3 weeks ago

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

[–] b161@lemmy.blahaj.zone 15 points 3 weeks ago

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

[–] Lucky_777@lemmy.world 33 points 3 weeks ago (1 children)

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 3 weeks ago (1 children)

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 3 weeks ago

100% agree

[–] blimthepixie@lemmy.dbzer0.com 30 points 3 weeks ago

[–] GreenCrunch@piefed.blahaj.zone 25 points 3 weeks ago

Who could have foreseen this?!

[–] jaybone@lemmy.zip 23 points 3 weeks ago

reflecting a broader downturn in the sector.

What sector is that, the money laundering sector?

[–] pinheadednightmare@lemmy.world 20 points 3 weeks ago

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

[–] ilillilillilillililli@lemmy.world 15 points 3 weeks ago (1 children)

"I love the poorly educated."

[–] snooggums@piefed.world 7 points 3 weeks ago

"I love inflation "

[–] andyburke@fedia.io 6 points 3 weeks ago

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

[–] breezeblock@lemmy.ca 5 points 3 weeks ago

It’s all grift — all the way down

[–] cideyav138@lemmy.ml 5 points 3 weeks 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.

[–] buddascrayon@lemmy.world 4 points 3 weeks ago

You mean Trump's pump and dump?

[–] jobbies@lemmy.zip 1 points 3 weeks ago

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