'cashing in on the presidency'
Trump Became a Crypto Billionaire Overnight Thanks to 'Trump Meme'
Coin
The president-elect has positioned himself to execute the ultimate
presidential grift
President-elect Donald Trump's new cryptocurrency token has made him
a billionaire many times over, but concerns remain over the ethics of
the scheme in light of his presidency.
According to Axios, Trump's crypto holdings reached $58 billion in
worth on paper that when put together with his other assets could put
him among the richest people in the world.
Trump announced the launch of the token, which he is calling "$TRUMP,"
on Friday by inviting his followers to "Join my very special Trump
Community." The cryptocurrency's slogan reads: "Join the Trump
Community. This is History in the Making!"
Marketing materials for the coin depict Trump with a raised fist
following the assassination attempt against him this past summer with
"FIGHT FIGHT FIGHT" and Trump's signature superimposed over the image.
Created by CIC Digital LLC -- an affiliate of the Trump Organization
that has sold other Trump merchandise, including a "God Bless the USA
Bible," Trump sneakers, cologne commemorating the assassination
attempt and $100,000 diamond watches -- the token began trading at $10
each on Friday but reached $70 by Sunday morning, according to The
Associated Press. The Trump Meme website states that the Trump
Organization owns 80 percent of the cryptocurrency, and it says they
will slowly release more over the next three years while profiting
from "trading revenue" generated by the sales.
https://www.rollingstone.com/politics/politics-news/trump-crypto-billionaire-meme-coin-1235241198/
Trump Organization owns 80 percent of the cryptocurrency
will slowly release more
Do the math....
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