First lady not named in suit in which investors allege Meteora executives created coin they knew would plummet
The designers of a cryptocurrency launched by the US first lady, Melania Trump, in January were accused in court filings on Tuesday of orchestrating a pump-and-dump scheme.
The $MELANIA coins were released for just a few cents each on 19 January, the day before Donald Trump was inaugurated as US president. In addition to $MELANIA, Donald Trump launched $TRUMP a few hours before his inauguration.
Within hours, the $MELANIA coin’s price soared to $13.73.
Aren’t all meme coins just pump and dump? People only buy them because of made up hype and they know they will eventually be worthless
Cryptocurrency seems to serve virtually no purpose outside of functioning as a technically legal means of scamming people the way people got scammed in the stock market before the great depression.
The SEC exists for a reason. Yet people willingly “invest” in 1s and 0s on a computer somewhere, with no underlying business value, and that also offer none of the protections that come with putting money into securities. Its literally 99.9% confidence schemes and pump and dumps. Theres hardly even any differentiation in the scams
you can actually use them for useful things, like purchasing on such leading ecommerce sites as… uh… gettrumpfragrances.com and… er… gettrumpsneakers.com.
It is actually quite convenient for moving large sums of money around quickly, without waiting on “trusted” third parties. Like transferring a large chunk of money between banks takes several days to a couple weeks depending on the amount. Crypto takes minutes, regardless of the amount.
Too slow currently to be a point of sale currency, but much faster than banking. There’s also the trust less, self enforcing contracts that remove the need for escrow or middlemen.
And money laundering for organized crime
“Architects of well-known type of crypto scam accused of running crypto scam.”
It being a scam was a given
I love that even the name did not tick them off… I mean $melania that smells like shit already.
MAGA crowd is very easy to scam and exploit.
There was the Kirk website exploit and now this.
Looking forward to more. Maybe I should come up with something too.
Makes me wish I didn’t have scruples/morals/values sometimes. I could be a rich man with as gullible as these fucks are.
I think there has to be some crossover. I have yet to witness someone who is smart enough to grift, recognize grifters and has also not found something better to do with their time.
I have to imagine there’s hundreds of thousands of grifts that go nowhere by unintelligent fucks and we only hear of the ones that were successful. Not saying there’s no one out there like that, but I think there’s just barely any crossover in those two crowds.
I wouldn’t be surprised at all if all the big-time grifters were constantly being grifted as well because those are the types of people they surround themselves with.
Don’t forget Bannon’s bullshit wall-building scheme. The one he should have gone to prison for, but of course was pardoned by the pedo-in-chief.
MAGA crowd is very easy to scam and exploit
A lot of this isn’t scamming, strictly speaking. It’s a legalized form of bribery.
The Qataris are some of the biggest holders of these coins, as a means of extracting foreign policy concessions from the President
I don’t think this one is legalized. They may have five it to obfuscate the bribery, but that doesn’t make it any more legal
Yep. Probably a lot of marks got caught up in this, but it is most likely just a way to directly bribe this shitstain of a “president” by who knows what entities/countries.
deleted by creator
Trump and dump
The words trump and fraud together in a headline does no longer surprises me
Anyone who legitimately thought this was going to be anything other than a way to give money to the trump clan while avoiding bribery laws is not the ones it was meant for.
Those who it was meant for kept receipts of their holdings and those will be good for favors later on.
Anyone thinking this would be a good investment is a moron.
The purpose is obviously that the coin is for corruption.ya don’t say
Not her, though?
Now go after all the other bullshit schemes this “administration” has been up to, including laundering money from who knows where to him and his failsons.
First lady not named in suit in which investors allege Meteora executives created coin they knew would plummet
Everyone knew it would plummet, except apparently the few suckers who bought into it. This is like going to a water park and suing because you got wet.
Actually it sounds like most of those that did, also knew it would plummet, they just thought they’d be the ones to cash out at the top
Well I, for one, am SHOCKED.
You mean the obvious scamcoin was a scam? GTFO of here. I don’t believe it.
“Gasp”
