Summary: Donald Trump and Melania launched their own cryptocurrencies, TRUMP and MELANIA, which many in the crypto community believe undermine the credibility of the market. These memecoins primarily serve as speculative assets, allowing people to increase Trump’s wealth without directly transferring him money. This setup could lead to corruption, as it enables individuals to gain influence with Trump while avoiding legal issues related to bribery.
Speculation is a game of higher-order beliefs. (View Highlight)
memecoins are a form of payment technology — not the normal kind of payment, but an approximate, sloppy one. The uncertainty about how much money you’re actually giving someone by pumping their memecoin is the price you pay for the immaculate, plausibly deniable nature of the gift. (View Highlight)