Trump got his tail pinched a little over his Trump Coin. Senators Richard Blumenthal and Elizabeth Warren have appealed to SEC Chair Paul Atkins, calling for an investigation into the TRUMP memecoin. It’s being accused of running a pump-and-dump scheme - or as we like to call it, our favorite rug pull (anyone who’s ever swum in the murky pond of memecoins has gotten hit with this crap).
Trump scammed the public - or more precisely, his family did out of roughly $3.81 billion. Of that, $636 million landed in his own pocket personally (not bad, Donny, not bad at all). Around 1 million investors, aka “mammoths,” got burned. I’m one of the mighty investors myself )), proud owner of 2.18 TRUMP (by the way, I’m planning to exit with a profit despite this crap’s price drop, because there’s this thing called shorting - a short position. I’d do the same in your shoes, but this isn’t financial advice).
Also, grandpa Trump collects trading fees, since his token got listed on a bunch of DEXʼs - which was also pointed out in the document. As always happens with these schemes, insiders were lurking nearby and made off with roughly $109 million, earned within the first two days after launch. Obviously some of it went to his own people, but there were also some lucky regular folks (the same “factory worker” type). There’s always some smart guy who manages to “snipe” the token in time and dump it on the crowd right on schedule. They’ve already found one such person - a crypto trader going by “Kimchi,” who claims to have made somewhere between $40 and $50 million. Nothing showed up in the on-chain transactions, but the kid’s hustling hard - you can check out his social media yourself if you’re curious.
Anyway, the ginger shameless one got a bit of heat - they’re saying he’s a bad guy running dirty schemes. But I think as long as he’s sitting in the president’s chair, nothing threatens him. And once his presidential term ends, he’ll play dumb and say people should have read the disclaimer. As they say: “Thanks everyone, you’re all free to go.
