I know nothing about Crypto. I should have listened to a friend telling me about Bitcoin years ago. But doesn’t a strategic defeat the purpose of it as it would lead to more scrutiny?
I saw this thread on Twitter about how it’s a scam to benefit Sacks:
https://x.com/dmartkc/status/1896260059640025113?s=46&t=1hQjv5tuD89r5F4OYQafSQ
However there are comments that Sack’s holding just mirror the top holdings anyway. Any context?
Seems like this should be a much bigger story.
https://x.com/benjaminnorton/status/1896362200119538055?s=46&t=f4MKbkOzpNU_o_bXlnvUlQ
I can’t figure out if it is. The items are his biggest holdings but they are also the largest coins. You’d expect that he’d have them.
If there is a pump and dump, hopefully that can be id’d.
yeah, was following that long when it happend on hyperliquid (decentralized exchange). but to clarify, the position size was 200M or so, the actual risked capital was 4-5M I think…at a 50X leverage. Everyone just assumes it was an insider with some knowledge to Trump’s tweet on the strategic reserve.
Chinese crypto mogul Justin Sun bought $75 million of the $TRUMP coin, then had his pending civil fraud case halted by the SEC.
https://x.com/frankluntz/status/1896609021752438787?s=46&t=f4MKbkOzpNU_o_bXlnvUlQ
I saw that on The Bulkward or another anti-Trump site and couldn’t believe that it was true. It was saying $56 million. But I guess that may have been 75% of 75 million.
I sent the CNN article to a friend and his response was:
“ I don’t know a lot about crypto either, but I’ll lean on common sense here with the understanding that trump is without a doubt the most scrutinized, investigated person on the plant and ANY action that can be proven illegal will be pounced on by legions of lawyers and interest groups. Wouldn’t you agree?”
So I guess I’m the moron.
Which is why he dismantled the oversight structure week one.
Most likely. Next response was:
Plus, it doesn’t make sense that ‘75% of all investment goes to Trump’ . So, buy my new crypto , I’ll take 75% and then invest the remaining 25% for you, the buyer? I know that’s what the article said , but doesn’t pass the smell test to me
Murphy breaks it down clearly, and holy fuck.
How much has Trump made on transaction fees while buyers lost millions?
Who bought the $6M and sold at $100M?
https://x.com/chrismurphyct/status/1897696702871536072?s=46&t=f4MKbkOzpNU_o_bXlnvUlQ
Crypto is a house of cards.
Look out below, because when it all collapses and becomes worthless, we are all gonna be in a world of hurt.
And having the govt invest in crypto is the stupidest idea of the century.
Not for the guy running the government when he’s heavily invested in it.
I bought some crypto for shits and goggles. Made some decent money on Solana. As soon as Trump got into it I knew it was a scam. Sold everything.
Wouldn’t there be a lot more upside if the government starts holding?
The reporting I’ve seen says that Sacks divested all his crypto as well as his position in Bitwise before he officially joined the administration. I have no idea how to verify that, but he’s pretty vocally denying any conflict. And since he’s Trump’s guy I’m sure he’s honest and trustworthy.
Briefly but then once it has value Will they let it be deregulated. And if it truly is a strategic need can it not be regulated.
Sure. If the government wasn’t the biggest collection of corrupt politicians in US history.
Unfortunately…
But they all want to make money from pumping crypto? So as I said wouldn’t there still be a lot of short term upside until they decide to dump?
You should watch the video I posted if you haven’t. It appears (assuming Murphy is correct) that the transaction fees, regardless of actual value, is where Trump is making his money.
On his shit coin, but apparently he holds a heap of ETH so I’d imagine he will be pumping that and then dump it, or might just keep pumping it for the next couple of years and then dump. I dunno, just seems to me there has got to be at least 25-50% short term upside.
I’ll take a look at ur vid
