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I am wondering whether the Trump memecoin dinner tonight is one of the most damaging thing that has happened to crypto's reputation in years.
Even worse than FTX or Luna. Those at least pretended to be something legitimate before they collapsed.
But this is the President of the United States openly extracting from retail, in broad daylight, and calling it a gala.
$4.3 billion extracted from retail.
$1.2 billion to 45 insider wallets.
$320 million in fees to the Trump family.
Token down 96%.
2 million $TRUMP holders underwater.
Even three US Senators have officially opened an investigation into this as a pay-to-play scheme already.
And the worst part? There are still idiots left that are cheering for it because they think it's "bullish for adoption."
It's not. It's the exact shit we need to leave behind.