https://x.com/chooserich/status/1880449929107370402?t=gyCx03mory05u7NinLlSuA&s=19
Needle Dick Nick strikes again!
https://x.com/chooserich/status/1880506720109359373
https://x.com/chooserich/status/1880465564109533620
https://www.forbes.com/sites/digital-assets/2025/01/18/official-trump-coin-how-did-we-get-here/
https://www.motherjones.com/politics/2025/01/trump-meme-coin-crypto-inauguration-explained/
https://x.com/lopp/status/1880644010097914272
In addition to Snoop Dogg, the entertainment lineup featured rappers Rick Ross and Soulja Boy, the attendees said.
Christ Almighty those are some big names...
Trump, who did not attend the gala, courted crypto campaign cash with promises to be a "crypto president," and is expected next week to issue executive orders aimed at reducing crypto regulatory roadblocks and promoting widespread adoption of digital assets.
If there was ever any doubt that Trump was going to roll back regulations, that FUD has gone directly out the window with this most recent development. Clown World will continue to escalate in 2025. Count on it. Let the absurdity continue.
Legit nobody thinks this is a good thing.
The only question in crypto is "can I make money off this scam". While it's easy to deny the Greater Fool's Theory for Bitcoin and other top tier assets, there's no denying it applies here. Most buyers are straight up admitting to the uselessness of this 80% premined asset. Although I heard a rumor that a lot of it will be locked for a few more months so maybe the party continues until then. Unclear.
I for one would love to short this token and considered it at $32 when the market cap had already ascended to $6B in a single day (yes there is already a perps market for it). However it's hard to tell if it's fully saturated or not, as it hasn't existed long enough to make the rounds. Ranked in the #30's against other tokens worldwide and worth over x25 times higher than Hive within 24 hours. Solana is an impressive powerhouse of the shitcoin casino, this is an undeniable fact. In fact the price of Solana is currently at all time highs right now, presumably due to this very development of the soon-to-be sitting president building a transparent scam on the network.
"There were a lot of dark years," said Les Borsai, co-founder of the crypto investment adviser Wave Digital Assets, who flew in from Los Angeles. "If this signifies what the future looks like ... I think that's the optimism we've been waiting for."
Get ready for Good times creating weak men!
Crypto was going to be just fine no matter who won the presidency.
The next four years are going to make us fat and lazy.
But we'll be rich so it's not so bad, right?
"Last night was truly a testament to how mainstream crypto has become," said JP Richardson, CEO of Exodus, which co-hosted the ball.
And yet the actual mainstream is still sidelined.
Get ready for the floodgates to open this year.
Worried about fraud and money laundering, President Joe Biden's regulators cracked down on crypto companies, suing exchanges Coinbase, Binance, Kraken and dozens more in federal court. Trump's crypto policy team is taking shape, with his crypto-friendly Securities and Exchange Commission chair pick Paul Atkins expected to forge major crypto policy changes.
Yeah that's not what Biden was worried about.
Don't let the door hit your ass on the way out. The Biden administration has been engaged in an illegal shadow banking war against crypto since they got into power. It even has a name: Operation Chokepoint 2.0... and the evidence to substantiate this claim includes enough data to write multiple books. The establishment doesn't want crypto because crypto is anti-establishment.
But now crypto has gotten too powerful and it was only a matter of time before we bought some key politicians and swung them to our side. Who better than Trump to jump head-first full-throttle with multiple scams like his NFT line, World Liberty Financial, and now a dogshit Solana memecoin. I must admit I'm impressed by this new memecoin's current success considering the other two projects were massive flops if I recall correctly.
“Unlike traditional Trump-branded ventures, cryptocurrency’s pseudonymous nature means anyone globally can invest without identity checks, potentially creating concerns about undue influence on a sitting president,”
Yes politicians have never been bought before this moment.
Cool story.
Tell it walking.
Although it is worth noting this could create a crazy new paradigm.
The strict interpretation of securities laws that follows from Gensler’s school of thought, while intended to protect investors, may have inadvertently pushed cryptocurrency innovation toward meme coins rather than utility tokens. Consider the cautionary tales of Libra (later Diem), LBRY and the like, which spent millions attempting to launch a legitimate cryptocurrency only to be stymied by regulatory hurdles. Meanwhile, meme coins like Dogecoin, Shiba Inu, and now Trump Coin have flourished precisely because they make no pretense of being securities: they explicitly position themselves as purely speculative assets with no promise of profit sharing or underlying utility.
This dynamic has created what might be called "the regulatory safe harbor of absurdity" – the more explicitly a token positions itself as a meme with no serious utility, the safer it becomes from securities regulation.
I've never heard of the "regulatory safe harbor of absurdity" but it is a fun idea.
Personally I think it's even simpler than this. Why pay a dev team to create a product that never ends up delivering 99% of the time anyway? This memecoin frenzy is a convergence of technology from every cycle narrative year. ICO in 2016; DEFI/AMM/NFT in 2020, and now cheap centralized L1 VC garbage to spin it up "fair launch" pairings and timelocked premines. The fact that they are clearly not investment contracts is just icing on the cake.
Conclusion
Is this a bad thing? Many would interpret it that way, but I would tell them this is something we should have expected was bound to happen sooner or later. When things go mainstream they tend to get warped, corrupted, obscured, and absurd. Are we in trouble if Trump rolls back all the regulations and makes the scams more "legal"? No, the regulations never helped in the first place.
All we can do in this situation is roll with the punches and try to do the best we can with the small things we can control. This is something crypto users are going to need to come to terms with sooner or later. We can't operate under the idea that things "should" be a certain way or not in a permissionless ecosystem. That's exactly why the permissioned ecosystem existed in the first place. Don't try to reinvent the wheel here. We need a new path forward. The cycle of power and permission must be broken.
Thus far regulation has been like the cops showing up to a murder 5 hours late and being like "I wonder who did it?!" "Ah well let's just frame someone and call it good." That is exactly what crypto regulation in the USA has been over these last 4 years. It quite literally can't get worse from here. Onward and upward... I guess. Second star to the right and straight on till morning.
Posted Using INLEO