$TRUMP was groundbreaking for more reasons than one. In a previous post, “Out Where the Wild Things Are,” I mentioned the harm that meme coins have inflicted upon the crypto universe. (Note: I explain these terms in that post. If you don’t know what these terms mean, read that post then come back here.) You have Bitcoin, the proposed savior of mankind against the alleged frailties of fiat currencies brought about by years of worldwide central bank mismanagement. Then, you have Shitcoin. The rug-pulls associated with the latter have inflicted huge damage on speculators. And with them come the attendant civil and criminal liability: witness the case of Argentinian President Javier Milei who now is not only defending against impeachment charges, but he is also fighting criminal fraud charges according to a recent Politico report! $TRUMP arguably didn’t go that far, as it lasted for more than a day (but barely as many short all things Trump). But $TRUMP crashed over 60% in two weeks and over 74% in only 37 days.
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