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Trump crypto token buyers are down $3.8 billion, Nansen data shows (www.coindesk.com)
submitted 2 months ago by to c/technology@lemmy.world
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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.

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[–] 109 points 2 months 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.

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  • [–] 48 points 2 months 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.

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