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The Trump Memecoin’s ‘Money-Grab’ Economics
When he launched his own cryptocurrency, Donald Trump produced unimaginable wealth from thin air. But it will come at a cost to someone.
Late Friday evening, three days before his return to the Oval Office, Donald Trump performed an act of crypto alchemy. The post marked the launch of Trump’s very own memecoin —a type of joke cryptocurrency that typically has no purpose beyond financial speculation, whose value tends to whipsaw dramatically with changes in public sentiment. World Liberty Financial was met with skepticism by some members of the crypto industry, who worried that the project could lead to losses among investors and deal lasting reputational damage should it fail.
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