{"id":3413,"date":"2025-04-25T13:09:19","date_gmt":"2025-04-25T13:09:19","guid":{"rendered":"https:\/\/gunowner-news.com\/?p=3413"},"modified":"2025-04-25T13:09:19","modified_gmt":"2025-04-25T13:09:19","slug":"trumps-very-stable-genius-coin","status":"publish","type":"post","link":"https:\/\/gunowner-news.com\/?p=3413","title":{"rendered":"Trump\u2019s Very Stable Genius Coin"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p><!-- BLOCK(acast)[0](%7B%22componentName%22%3A%22ACAST%22%2C%22entityType%22%3A%22SHORTCODE%22%2C%22optional%22%3Afalse%7D)(%7B%22id%22%3A%22trumps-very-stable-genius-coin%22%2C%22podcast%22%3A%22intercept-presents%22%2C%22subscribe%22%3Atrue%7D) --><\/p>\n<p>\n  <iframe src=\"https:\/\/embed.acast.com\/intercept-presents\/trumps-very-stable-genius-coin?accentColor=111111&amp;bgColor=f5f6f7&amp;logo=false\" frameborder=\"0\" scrolling=\"no\" class=\"acast-player__embed\"><\/iframe>\n<\/p>\n<p><!-- END-BLOCK(acast)[0] --><\/p>\n<p><span class=\"has-underline\">On the eve<\/span> of his second inauguration, Donald Trump did something no U.S. president had ever done: He launched a meme coin. The cryptocurrency \u2014 whose value hinges more on hype than utility \u2014 surged to an all-time high of <a href=\"https:\/\/coinmarketcap.com\/currencies\/official-trump\/\">$75.35<\/a> a token. The next day, First Lady Melania Trump dropped her own meme coin, debuting at about <a href=\"https:\/\/coinmarketcap.com\/currencies\/melania-meme\/\">$13 a share<\/a>.\u00a0<\/p>\n<p>Both coins have since tumbled, but on Wednesday Trump\u2019s token briefly bumped up again to $15.47 before dipping. The latest surge came after the coin\u2019s official website announced that <a href=\"https:\/\/gettrumpmemes.com\/dinner\">220 top meme coin holders<\/a> will be invited to a gala dinner with the president in May \u2014 black tie optional.\u00a0<\/p>\n<p>These tokens, that are not tied to any real world assets, have proven <a href=\"https:\/\/www.citationneeded.news\/trump-crypto-empire\/\">lucrative<\/a> for Trump and his family. Last month, the Financial Times estimated Trump made upwards of <a href=\"https:\/\/www.ft.com\/content\/cb1def8f-53a6-478e-9b3e-33c383b29629\">$350 million<\/a> from the project. While small traders have lost big, the Trump Organization and its affiliates \u2014 controlling <a href=\"https:\/\/www.forbes.com\/sites\/siladityaray\/2025\/04\/24\/trump-meme-coin-price-surges-after-top-holders-are-invited-for-dinner-with-president\/\">80 percent <\/a>of the token supply \u2014 have made hundreds of millions in just trading <a href=\"https:\/\/www.reuters.com\/markets\/currencies\/trumps-meme-coin-made-nearly-100-million-trading-fees-small-traders-lost-money-2025-02-03\/\">fees<\/a>.<\/p>\n<p><!-- BLOCK(cta)[1](%7B%22componentName%22%3A%22CTA%22%2C%22entityType%22%3A%22SHORTCODE%22%2C%22optional%22%3Atrue%7D)(%7B%7D) --><\/p>\n<p><!-- END-BLOCK(cta)[1] --><\/p>\n<p>From meme coins, which usually refer to a fun internet or pop culture meme, and <a href=\"https:\/\/theintercept.com\/2025\/04\/21\/congress-crypto-stablecoin-trump\/\">stablecoins<\/a>, whose values are pegged to a real-world asset, to a new government-backed <a href=\"https:\/\/theintercept.com\/2025\/04\/19\/trump-tariffs-crypto-bitcoin-reserve\/\">bitcoin reserve<\/a>, Trump, once a crypto skeptic, is now the industry\u2019s most powerful advocate.<\/p>\n<p>\u201c\u200aHe went to a big <a href=\"https:\/\/theintercept.com\/2024\/08\/03\/trump-nashville-bitcoin-conference\/\">bitcoin conference in Nashville<\/a> last July. That\u2019s where he declared he would make the U.S. the crypto capital of the planet,\u201d says Intercept reporter Matt Sledge. \u201cAnd the crypto industry started showering money on him. They saw somebody who would be friendly to their industry.\u201d<\/p>\n<p>This week on The Intercept Briefing, Sledge, who <a href=\"https:\/\/theintercept.com\/staff\/matt-sledge\/\">covers crypto\u2019s political reach<\/a>, discusses how investing in the president has paid off for the industry and for the Trump family.<\/p>\n<p>\u201cSo far in Trump\u2019s presidency, things have gone great for the crypto industry. Even as the rest of the economy is on pretty perilous footing, a bunch of crypto companies have seen the SEC and other regulatory agencies drop investigations or lawsuits. Trump has created a \u2018bitcoin reserve,\u2019 and in general, regulators and Congress are behaving much more friendly toward the industry.\u201d<\/p>\n<p>On Sunday, a filing with the Federal Election Commission revealed that Trump received a record<a href=\"https:\/\/docquery.fec.gov\/cgi-bin\/forms\/C00894162\/1889684\/\"> $239 million<\/a> in donations that went toward his inauguration. According to reporting from Fortune, the crypto industry gave about <a href=\"https:\/\/archive.ph\/k2mqe\">$18 million<\/a> alone.\u00a0<\/p>\n<p>The meme coins are just one aspect of the president and his family\u2019s growing crypto empire \u2014 an empire that includes Trump\u2019s sons, Eric and Don Jr., taking a stake in a new bitcoin mining firm called <a href=\"https:\/\/www.reuters.com\/business\/finance\/how-trump-family-took-over-crypto-firm-it-raised-hundreds-millions-2025-03-31\/\">American Bitcoin<\/a>. Trump <a href=\"https:\/\/www.nytimes.com\/2025\/04\/22\/business\/trump-media-crypto.html\">Media<\/a> is also partnering with Crypto.com and a newly formed investment firm to offer financial products, including crypto to retail investors.\u00a0<\/p>\n<p>\u201cJust a few weeks ago, the SEC dropped an investigation into Crypto.com,\u201d Sledge points out. \u201cThis is something that would\u2019ve been really astonishing under any other president, regardless of their party. You go from a company being under investigation just a few weeks ago to it having this partnership with the president\u2019s publicly traded company.\u201d\u00a0<\/p>\n<p>For more on how Trump is reshaping the crypto landscape and what it means for the rest of us, listen to the full conversation of The Intercept Briefing on<a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/the-intercept-briefing\/id1195206601\"> Apple Podcasts<\/a>,<a href=\"https:\/\/open.spotify.com\/show\/2js8lwDRiK1TB4rUgiYb24?si=e3ce772344ee4170\"> Spotify<\/a>, or wherever you listen.<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/theintercept.com\/2025\/04\/25\/briefing-podcast-trump-crypto-meme-coin\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the eve of his second inauguration, Donald Trump did something no U.S. president had ever done: He launched a meme coin. The cryptocurrency \u2014 whose value hinges more on hype than utility \u2014 surged to an all-time high of $75.35 a token. The next day, First Lady Melania Trump dropped her own meme coin, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3414,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":{"0":"post-3413","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-usa-news"},"_links":{"self":[{"href":"https:\/\/gunowner-news.com\/index.php?rest_route=\/wp\/v2\/posts\/3413","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gunowner-news.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gunowner-news.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gunowner-news.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gunowner-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3413"}],"version-history":[{"count":0,"href":"https:\/\/gunowner-news.com\/index.php?rest_route=\/wp\/v2\/posts\/3413\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gunowner-news.com\/index.php?rest_route=\/wp\/v2\/media\/3414"}],"wp:attachment":[{"href":"https:\/\/gunowner-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gunowner-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gunowner-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}