The post Trump Likes Crypto: Just As Long As It's For Grifting appeared on BitcoinEthereumNews.com.
When the $TRUMP meme coin dropped Friday evening, no one was surprised. Or at least, they shouldn’t have been. He has a knack for jumping headfirst into endeavors he thinks he can make money on, in self-promoting fashion, that often end in disaster. Some of these ventures include Trump Airlines, Trump Vodka, Trump Steaks, Trump University, Trump Magazine, Trump Plaza Hotel and Casino, Trump Mortgage, Trump: The Game. Crypto is the next game in town he’s decided to throw his hat into. I’ve already written articles and talked at various lengths about Trump leaning into the crypto space to earn votes in this past election that in many ways was quite successful. At Bitcoin Nashville this past summer, in an effort to garner support for his presidential candidacy, Trump said some notable things including that America will become “the crypto capital of the planet and bitcoin superpower of the world,” that he would fire Gary Gensler, and that he wants all remaining bitcoin to be made in America (concerning from a decentralized point of view, and highly implausible in reality). He also famously said that he would commute the sentence of Ross Ulbricht on Day one, which if he does I will be the first to give credit where credit is due. (For more on this I recommend watching the recent Reason documentary on why Ross should be freed). Crypto is Donald Trump’s next frontier and combines several things he absolutely loves when it comes to business deals – Quick easy money, self-promotion, America first messaging, and little bureaucratic friction standing in his way. So, what is $TRUMP coin? It’s built on the Solana blockchain with a total supply of 1 billion tokens. Initially, 200 million tokens are available for circulation, while the remaining 800 million are held by CIC…