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Mr. Klepto goes Mr. Crypto, and it's Mr. Trump [1]
['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']
Date: 2025-01-18
Donald Trump's kleptocracy has gone cryptocracy as well. Trump has created his own meme cryptocurrency using Solana, which uses proof-of-stake for it's blockchain operation. Bitcoin uses proof-of-work, which is why it is so expensive and energy intensive to mine.
The currency is called $TRUMP.
It was launched yesterday.
"On July 13, 2025 President Trump faced death and came up fighting!" is how the salespitch starts. First, he was ex-president, and getting a nick in the ear isn't facing death. He faced a possible assassination. We all face death every day. Big deal.
"Now you can get your own piece of history." Yes, maybe it is with Trump, being the first president to shill for a cryptocurrency that will only benefit him. I expect the MAGA rubes will jump right in, like with his stock in Trump Media.
200 million $TRUMP are available now, and it will grow to 1 billion in three years.
This is part of their prospectus, the only real piece of information, which is too low resolution to read. Like the fools are even going to look at this.
"Trump memes are fungible crypto assets created and tracked on the Solana blockchain." Fungible. This as opposed to his non-fungible trading cards he put out for $99 apiece.
To buy, you have download the Moonshot app, which uses the Moonpay system to take your money and get you $TRUMP coins or tokens. I don't know what to call them yet.
Moonshot is based in London, but Moonpay is based in Miami. Now who do we know lives near Miami and has a golf course there? Moonshot has been around since 2015, and Moonpay since 2019. Never heard of them before now, but I have no desire to get into cryptocurrencies because I believe they are pyramid schemes. Those in at the top make money, and everybody else loses. Just my opinion. There have been failures of crypto exchanges and currencies, so let the buyer beware not only what you buy, but where you keep it. It's not like they have a bank's FDIC insurance.
Somebody ββββis making money on it already as Forbes has the market cap going to $20 billion in a matter of hours.
"This is beyond insane. What is happening?" analysts with The Kobeissi Letter posted to X.
It's amazing that Trump did this on the last business day before his inauguration. I think it was a deliberate choice. Just to start off his reign of kleptocracy. The stable genius found one last product to hawk before the U.S. Treasury becomes his personal piggybank. I warn you that he will ignore the 1866 law that prevents a living person from being on coins or paper money. I think he'll go for the $100 bill because it's the largest in circulation.
We'll find out as some point what Trump's stake in this is. With his name on it, some people will invest their life savings. I think they'll regret it.
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