New Books in Science, Technology, and Society Empire of Gain: Inside Trump’s Billion-Dollar Crypto Hustle
May 23, 2025
In a riveting discussion, journalist Matt Binder delves into the complexities of Trump's crypto ventures, revealing the intertwining of politics and profit. Edward Luce sheds light on the Trump family's controversial foray into virtual currencies and the ethical implications surrounding them. Sergei Sergienko adds a thrilling twist, recounting his own extortion attempt in Dubai and highlighting the dangers facing crypto entrepreneurs. Together, they paint a gripping picture of the dark side of thriving in the cryptocurrency world.
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Meme Coins Explained
- Meme coins are cryptocurrencies based solely on internet memes without any backing assets.
- Their value depends entirely on how many people buy in, making them extremely volatile and risky investments.
Stable Coins vs Meme Coins
- Stable coins are backed by real assets, like the US dollar, to reduce volatility.
- Trump's stable coin USD1 is pegged to $1 and generates profits from trading fees and interest.
Trump Meme Coin Special Access
- Trump used his meme coin to offer special access, like dinners, to top coin holders.
- After winners were announced, many big holders sold off their Trump meme coins quickly.