8 reactions
The Maga backlash against Trump’s crypto grab: ‘This is bad, and looks bad’
When Donald Trump announced – three days before assuming the presidency of the United States, and followed shortly by Melania Trump – that he was launching a self-named “ meme coin ” cryptocurrency, many in the crypto industry were quick to express frustration. Ethics experts were also alarmed .
Among Trump’s base, however, a similar backlash – smaller, more muted, but similarly anguished – has been taking hold.
After a brief bubble as speculators raced to buy them, both Trump coins have mostly plummeted in value. Within the online Maga community – which has a certain degree of overlap with crypto enthusiasts – some feel betrayed by the president’s embrace of what some conservatives view as little better than a penny-stock pump-and-dump scam.
When Donald Trump announced – three days before assuming the presidency of the United States, and followed shortly by Melania Trump – that he was launching a self-named “ meme coin ” cryptocurrency, many in the crypto industry were quick to express frustration. Ethics experts were also alarmed .
Among Trump’s base, however, a similar backlash – smaller, more muted, but similarly anguished – has been taking hold.
After a brief bubble as speculators raced to buy them, both Trump coins have mostly plummeted in value. Within the online Maga community – which has a certain degree of overlap with crypto enthusiasts – some feel betrayed by the president’s embrace of what some conservatives view as little better than a penny-stock pump-and-dump scam.
| 21,000 mlx | |
| 18 | |
| 8 |