this post was submitted on 05 Jul 2026
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253
Trump crypto token buyers are down $3.8 billion, Nansen data shows (www.coindesk.com)
submitted 23 hours ago by technocrit@lemmy.dbzer0.com to c/technology@lemmy.world
16 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 16 comments
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[–] JasonDJ@lemmy.zip 95 points 22 hours 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 40 points 21 hours ago

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.

[–] b161@lemmy.blahaj.zone 13 points 20 hours ago

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

[–] jaybone@lemmy.zip 21 points 18 hours ago

reflecting a broader downturn in the sector.

What sector is that, the money laundering sector?

[–] blimthepixie@lemmy.dbzer0.com 28 points 20 hours ago

[–] Lucky_777@lemmy.world 31 points 22 hours 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 15 points 20 hours ago

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.

[–] GreenCrunch@piefed.blahaj.zone 25 points 22 hours ago

Who could have foreseen this?!

[–] pinheadednightmare@lemmy.world 20 points 22 hours ago

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

[–] ilillilillilillililli@lemmy.world 15 points 22 hours ago (1 children)

"I love the poorly educated."

[–] snooggums@piefed.world 7 points 21 hours ago

"I love inflation "

[–] cideyav138@lemmy.ml 5 points 17 hours 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.

[–] andyburke@fedia.io 6 points 21 hours ago

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

[–] breezeblock@lemmy.ca 5 points 20 hours ago

It’s all grift — all the way down

[–] buddascrayon@lemmy.world 4 points 20 hours ago

You mean Trump's pump and dump?

[–] jobbies@lemmy.zip 1 points 19 hours ago

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