New Books Network Empire of Gain: Inside Trump’s Billion-Dollar Crypto Hustle
May 23, 2025
Matt Binder, a journalist and host of the Scam Economy podcast, digs into Trump's controversial foray into cryptocurrency. He highlights the launch of Trump coin and its implications for political transparency and financing. The conversation also touches on the risks of meme coin investments and the intertwining of politics with crypto ventures. Additionally, the discussion reveals Sergei Sergienko’s harrowing experiences in the crypto world, illustrating the dark underbelly of wealth generation within this highly volatile landscape.
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Meme Coins Explained
- Meme coins are cryptocurrencies created quickly to capitalize on an internet meme, having no asset backing.
- Their value depends solely on how many people buy in, making late investors often lose money.
Trump's Crypto Dual Strategy
- Stable coins are backed by assets to maintain consistent value, unlike volatile meme coins.
- Trump family profits from both meme coin holdings and trading fees on stable coins.
Trump Crypto as a Heist
- Trump's crypto ventures represent possibly the largest heist in US history by using meme coins to funnel money.
- Foreign investors use these coins as vehicles to buy access and curry favor with Trump and his family.