Everybody's Business Did the Trump Memecoin Kill the Crypto Boom?
Dec 19, 2025
Amanda Mull, a Businessweek columnist specializing in consumer finance, explains the rising trend of Buy Now, Pay Later (BNPL) options, highlighting its mechanics and risks. Zeke Faux, a reporter and author, delves into the wild world of the Trump meme coin and its launch coinciding with the 2025 inauguration. He reveals the Trump family's estimated $350 million earnings, while discussing the fallout and market implications of this cryptic phenomenon. Together, they navigate the intersection of politics, finance, and consumer behavior.
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How Buy Now, Pay Later Actually Works
- Buy Now, Pay Later (BNPL) splits purchases into short interest-free installments and grew rapidly during the pandemic.
- Its revenue relies on retailer transaction fees and repeat borrowing, not traditional credit interest.
Revenue And Customer Profile Of BNPL
- BNPL firms earn mainly from merchant fees and upsell longer, interest-bearing loans to customers.
- Their user base skews young, single, often with children, and many miss payments though defaults remain lower than credit cards.
Rising Missed Payments, Low Defaults
- Missed BNPL payments rose significantly: 41% reported a missed payment in the past year.
- Yet reported default rates stay low (around 2–3%), lower than typical credit-card defaults.