The Powers That Be: Daily Inauguration Kremlinology & Trump’s Crypto Grift
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Jan 21, 2025 Bill Cohan, a seasoned financial journalist and author, joins to dissect the controversial launch of meme coins by Donald and Melania Trump coinciding with his inauguration. They uncover the ethical dilemmas of crony capitalism and the precarious nature of speculative investments. The duo also sheds light on the power dynamics at play with tech billionaires attending the inauguration, questioning their motives and the implications for American values. Cohan’s keen insights navigate the murky waters of crypto and political influence.
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Trump Meme Coins
- Donald Trump and Melania Trump launched meme coins during his inaugural weekend.
- These coins quickly gained value, with Trump's coin reaching a market cap of $10 billion.
Crony Capitalism
- Trump's use of meme coins and his media company seems like a new form of crony capitalism.
- He leverages power for self-enrichment by creating value out of thin air.
Shitcoins
- Meme coins, like Trump's, are not serious investments and are considered "shitcoins."
- They are similar to Trump's other ventures like Truth Social, which has little revenue but high valuations.