“DEBATE: Is the new $TRUMP Memecoin a Way to Send Anonymous Crypto Bribes to the President?”
Originally posted on the author’s Substack
A Conduit for Bribes or a new way to make America great?
Interesting news today. Last night, Donald Trump created a new cryptocurrency called $TRUMP.
80% of this cryptocurrency is owned by insiders, likely Trump himself and possibly his family. At the time of this writing, with $TRUMP at $28.47, the total valuation of this cryptocurrency is 27,182,959,932.
This makes the value of Trump’s insider shares $27,182,959,932*0.8 = $21,746,367,945. (21 billion dollars)
For outsiders, this meme cryptocurrency has no use whatsoever and is only good for owning and bragging to other like-minded people.
For Trump, it represents a cool nominal increase in his net worth of 21 billion dollars.
According to the terms of this meme coin, insiders can only start selling this cryptocurrency 90 days after its creation, well into the upcoming Trump presidency.
Will Trump be able to sell much of his 80% of the entire supply of the memecoin?
Not unless major buyers emerge. Will they?
Crypto Bribes?
As with any other cryptocurrency, $TRUMP could be owned or purchased anonymously. This means that a large politically or financially interested party can commit billions of dollars without revealing its name or interest and clandestinely buy the supply of $TRUMP shares.
That would allow Donald Trump to unload his shares and indirectly receive large amounts of money from essentially unknown parties. Who would that party be? We can only guess. Perhaps Bill Gates, who is “excited” about a day-ago meeting with Trump, in which he seems to have magically convinced him not to hurt Bill Gates’ interests?
Would it rather be a billionaire associated with Vladimir Putin?
Who knows!
The cryptocoin also provides plausible deniability: the bribe giver, if questioned under oath, could say that he was “just speculating,” whereas the bribe recipient could always point out that no direct transaction occurred and the insider coins were sold to other market participants (despite the value of the coin supported by large cash infusions from the interested party.)
Will bribes be paid via anonymous purchases of $TRUMP cryptocurrency? Time will tell – and I hope you can share your thoughts in the comments!
All I know is that such “anonymous giving,” benefiting the sitting President or his close relatives, has been tried before: Hunter Biden was selling his worthless paintings for large amounts of money to anonymous buyers, some of whom were identified to be Democratic party benefactors:
So, it is time to ask: Is creating a new crypto-memecoin that benefits a soon-to-be president of the leading superpower appropriate?
You can vote in the poll below and explain your thinking in the comments. In this discussion, I cannot really expect people to be super-polite, but I ask you to do your best to remain civil. Okay?
Let us know what you think!
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