In a few years, this weekend with the launch of the “Trump coin” which in 48 hours reaches 75 billion in value, will probably be remembered as a turning point, the top of the top of a financial bubblean event, even symbolic, extreme which in hindsight we will look back on and say: “This is where it all began.”
On Friday night, while all the important players of the “crypto” world were at the Trump children’s $2,500 “Crypto Ball”, Trump and sons suddenly issued 188 million “Trump coin” or “tokens” that were worth a few cents, keeping another 812 million for themselves. At first there were doubts whether it was actually Trump, Elon Musk himself put a post on X asking for it! These 188 million “Trump coins” launched on the market, from 10 cents around 5 in the morning Italian time, rose today, Sunday afternoon, to $73 dollars each, so the value of ALL these “coins”, which are 1 billion is 1 billion times $73 = 73 billion.
The Trump family, his trust, has 812 million, so 812 for $73 = approximately $60 billion. Is it legal? Consob USA until Fridaythe SEC prevented it, but on Friday evening Gensler, who was averse to crypto, resigned and a few hours later the Trump Coin was launched…