Crypto-Coin $TRUMP: A scam that makes him billions and drives the USA into the hands of Iran, Russia and Co.
Dear friends,
In the face of all the havoc, this news is at risk of being largely ignored. Yet it could threaten our security like no other.
What happened?
Last Friday, just four days before his inauguration on Monday, Donald Trump launched a crypto coin called $TRUMP. Within a few hours, the price of this so-called ‘meme coin’ skyrocketed.
This made Trump one of the 25 richest people in the world in just a few hours.
This is because 80% of the coins belong to ‘CIC Digital’ and ‘Fight Fight Fight’, companies directly associated with ‘The Trump Organization’. The jump in the price of the coin has earned Trump around 50 billion dollars overnight. On Sunday, his wife Melania launched her own coin, $MELANIA, and made 5 billion dollars directly from it.
There is no economic value behind these meme coins. Ultimately, they are simply like collectible baseball cards that can be traded globally and anonymously. According to the homepage, they are a sign of ‘support and commitment’ to Trump’s policies and are not intended as an investment.
The problem: foreign influence with Trump’s own corruption account
If you look at where the first big buyers came from, you see something interesting: they came from the exchanges ‘Binance’ and ‘Gate’, which do not serve US customers. So where did the money come from? Nobody knows.
And that is the problem: anyone who wants to put pressure on Trump or buy his favour can now buy Trump coins completely anonymously, drive up the price and make or destroy billions for Trump. This includes foreign countries such as Iran or China. During Trump’s first term in office, his family rather than himself did business with China, Russia and others. Now you can invest directly in Trump’s favour. This is nothing more than a corruption account for a politician and his organisation, which have been legally convicted of fraud in several cases.
If this practice is legal and becomes common practice, then every government can be bought.
When Trump is sworn in today, the richest people in the world will be in the audience: Musk, Zuckerberg, Cook and many others. With his Trump Coin, Trump now belongs to them. He has already announced that he will distribute another 800 million Trump coins in addition to the current 200 million.
Calculations show that if the value of his coins rises to $270 (currently $50) per unit, he will become the richest man in the world. And that’s what it’s all about for Trump and his tech billionaires in the end: getting even richer.
And now?
As the EU, we must now take a hard line against this forming tech oligarchy. We must not make any backroom deals to water down digital laws or scale back European crypto transparency rules, but rather build our own infrastructure and set up a democratic counterweight to Trump-style self-enrichment and takeovers by tech and crypto billionaires. That is what I am fighting for in the European Parliament.
If there is one thing you can do today, forward this email to your contacts so that everyone knows what is happening here. This must be in the main news!
With determined greetings,
Alexandra Geese
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Sources for further reading:
Axios: Trump meme coin doubles again, stake worth $58 billion or more
Bloomberg: Trump Found Guilty on All Counts in New York Fraud Trial