Anonymous wrote:I just listened to The Daily podcast on Trump as the crypto president, it’s truly despicable.
And before all you Trump apologists chime in about how big donors have always given tons of money, this is different because those donors have given tons of campaigns, buying Trump crypto coins goes directly to his pocket and to his family. It’s a direct form of bribery.
Here’s a snippet:
The Trump family controls 80% of the meme coins that eventually will be issued by this platform, but they haven't sold any of them yet. So that's just paper money. You know that for sure. It's the, yes, it's theoretical money we could see in the marketplace that they haven't sold it, but they also make money. Every time there's a purchase and a sale and there's a transaction, there's a small cut that's taken by the issuer or the mean coin. And so we were able to determine, with the help of some crypto analytical companies, that there was more than a hundred million dollars just as of March in transaction fees that were generated as a result of these of these transactions. So it was already generating, you know, tens of millions or a hundred million dollars for President Trump, members of his family and their business partners that launched this meme coin.
And then:
It's not illegal If you follow the fine print, which says, buyer beware, this is a collectible. This is not an investment. But that said, traditionally, if there had been a launch like this, an overnight, one of the most valuable mean coins in the world, what I've been told is that this likely would've resulted in a review by staff at the Securities and Exchange Commission to see whether or not there was any potential violations of federal law. And that did not occur. And in fact, what happened was soon after Trump became president and he appointed an acting head at the SEC, there was a new policy that was issued that formally announced for the first time that meme coins will not be the subject of investigations or regulatory actions to punish issuers of meme coins.
So Trump personally benefits from this thing that is an illegal gray area, this meme coin, then he becomes president. And then under him, the agency that might have investigated him in an earlier administration, perhaps a more aggressive administration, puts out a statement that says nothing to see here.
As a collectible, isn't the cap gains 39%?