The Trump family’s foray into cryptocurrency has resulted in a significant wealth decline of approximately one billion dollars in just a few months. This drop is attributed to losses in meme coins, Bitcoin mining ventures, and Trump Media & Technology Group (TMTG) investments, including a dramatic fall in the value of their holdings in the World Liberty Financial token. Despite these losses, the family’s overall crypto investments, especially since the president’s return to office, have significantly boosted their wealth. Furthermore, the broader downturn in the crypto market has also impacted the Trump family’s wealth, with significant drops in the value of TMTG shares and investments in the CRO token.
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President Trump’s declaration of a national “woke” emergency has enabled a disregard for established norms and legal processes. This has manifested in actions such as leveraging meme coins for personal gain, circumventing Congressional authority, and potentially weaponizing the Department of Justice. The involvement of Elon Musk further blurs lines of accountability and regulatory oversight. This invocation of emergency, a hallmark of authoritarian regimes, normalizes otherwise unacceptable actions and accelerates the consolidation of power.
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Representative Sam Liccardo’s MEME Act aims to prevent conflicts of interest by prohibiting high-ranking officials, including the president, from launching or endorsing cryptocurrencies like meme coins. The bill, though unlikely to pass in the current Congress, seeks to address concerns surrounding transparency, insider trading, and potential foreign influence stemming from President Trump’s meme coin launch. It would also mandate the return of profits gained from such ventures and allow private lawsuits for investors who suffered losses. The bill serves as a symbolic measure against perceived corruption and a potential template for future legislation should Democrats regain power.
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The recent collapse of Donald Trump’s cryptocurrency, “Trump Coin,” has resulted in staggering losses for investors, estimated to be over $12 billion. This dramatic downturn, representing a more than 80% devaluation since its peak on January 19th, highlights the significant risks associated with investing in meme coins tied to political figures.
The rapid plummet in value has left many investors, a significant portion likely Trump supporters, facing substantial financial losses. This serves as a stark reminder of the inherent volatility within the cryptocurrency market, especially concerning meme coins whose value is heavily reliant on hype and speculation rather than underlying utility or technological innovation.… Continue reading
John Q. Hosedrinker 
Matt Underwood