this post was submitted on 05 Jul 2026
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Trump crypto token buyers are down $3.8 billion, Nansen data shows (www.coindesk.com)
submitted 1 month ago by technocrit@lemmy.dbzer0.com to c/technology@lemmy.world
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The TRUMP token is down 96% from its peak, and 85% of secondary market wallets for WLFI are underwater, reflecting a broader downturn in the sector.

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[–] JasonDJ@lemmy.zip 109 points 1 month ago (4 children)

3.8 Billion Dollars doesn't disappear. Saying that the buyers "lost" 3.8 Billion Dollars is only telling half the story, and IMO the least important half.

Buyers spent 3.8 billion dollars on a coin that is worthless. So who received the 3.8 billion dollars? Most of it went to the people who sold the coin originally.

In other words, Trump fleeced his base. Again.

[–] b161@lemmy.blahaj.zone 15 points 1 month ago

Just like the amount the working class “lost” during covid was exactly the same amount that the ruling class “earned”.

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