Trump Family Crypto Project Quietly Sold as Holders Got Stuck
5 months ago by resipsaloquitur to c/leopardsatemyface
cross-posted from: https://reddthat.com/post/64846557
(Bloomberg) -- The pitch was straightforward: Invest in the cryptocurrency venture of Donald Trump and his family, back the industry’s most powerful ally at the peak of their influence, and share the spoils.
What is unfolding has no precedent in American financial life. A sitting president’s family holds financial stakes in a live token project — one setting governance rules, directing treasury sales, collecting proceeds — while the people who signed up find themselves with limited options to exit.
One time…? Really?
I feel that those suckers deserve every little scintilla of the footgun/face-eating leopard experience. It’s abundantly clear that they will refuse to give a shit until and unless they’re directly harmed by the shit they thought was awesome.and even then, it’s not a sure thing, because many of those fucking imbeciles experienced the first stint, though “hell yeah that’s awesome”, and went in for seconds. They need to learn by experiencing, and they richly deserve to experience being fucked mercilessly by the regime.
Let me clarify: usually I have sympathy for victims of fraud. I made an exception in this case.
This is one time I feel those suckers deserve it.
My glee for seeing morons lose is heavily tempered by my annoyance at seeing assholes win.
A coworker once asked me to explain penny stocks. I told him its not about the company but about if you can find someone to buy it from you for double what you paid. It is a literal "screw the next person in line" type of money making scheme.
That is basically what crypto looks to be.
its always the plebs holding the bag.
If only anyone could have known this would happen.
@lemmy.world
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@lemmy.world
Rules:
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This is one time I feel those suckers deserve it.
Now, let's see if there will be any consequences for the Trumps. I'm not holding my breath.
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