The Slow Newscast The $Trumpcon
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Mar 25, 2025 Stephen Fendison, known as CoffeeZilla, is an investigative YouTuber who exposes the wild world of cryptocurrency. He dives into the explosive launch of Donald Trump's meme coin, $TRUMP, and its dramatic rise and fall, examining how speculation and celebrity influence collide. Fendison also highlights a chaotic crypto scene in Argentina with Hayden Davis at its center, facing legal woes over a similar venture. The discussion raises critical questions about the unregulated crypto market and its potential impact on the economy.
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TrumpCoin Launch
- Donald Trump launched a meme coin, $TRUMP, days before his second inauguration, causing its value to soar.
- Melania Trump's subsequent release of her own coin led to a crash in $TRUMP's value.
Meme Coin Economics
- Meme coins are zero-sum games, meaning someone's gain is another's loss.
- One wallet made $109 million from $TRUMP, while 810,000 others lost a combined $2 billion.
Libra Coin Scandal
- Hayden Davis, involved in the Libra coin launch endorsed by Argentinian President Javier Milei, profited $100 million.
- Milei's tweet caused Libra's price to surge before collapsing, leading to investor losses and legal action against Milei.