Slate News What Next TBD | $Trump
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Feb 23, 2025 
David Yaffe-Bellany, a cryptocurrency reporter for The New York Times, dives into the intriguing world of crypto's ties to Donald Trump. He discusses how the crypto industry rallied behind Trump, hoping for legitimacy but instead facing chaos. The launch of meme coins like $Trump reveals a speculative frenzy, showcasing both financial gains and losses. Yaffe-Bellany also explores the controversies surrounding Trump's crypto ventures and how they intertwine with political interests, shedding light on scams and the sector's struggle for credibility.
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Crypto Ball and $Trump Coin Launch
- Crypto industry members gathered at a pre-inaugural "Crypto Ball", hoping for deregulation.
- Trump announced a meme coin, "$Trump", during the event, benefiting day traders who weren't at the ball.
Trump Coin Profits and Other Coins
- Trump's meme coin made his family paper profits of tens of billions and about $100 million in fees.
- They also launched two other coins: WLFI, associated with Trump's crypto business, and $Melania.
Shifting Views on Trump's Coins
- Initial enthusiasm for Trump's meme coin turned to skepticism after the launch of $Melania.
- Many in the industry questioned the ethics and potential conflicts of interest.