Just days before the inauguration, president-elect Trump launches 100% premined $TRUMP shitcoin, issued on Sølana (centralised VC shitcoin), with 20% of supply (200M/1B) released to public at initial valuation of around $600M, rapidly inflating to $6B mcap within 12h. Notably, Trump fam & insiders apparently still hold up to 80% (800M) of the undistributed tokens, which total mcap could be worth a staggering $30B if the full 1B token supply is issued and sold off over the next 3 yrs (unless rugpulled), generating massive profits - a clear conflict of interest for a sitting US president.
The shitcoin tokens are being actively promoted by Trump & fam on Truth & X legacy fiat platforms, sparking concerns of artificial value inflation. Sølana, which David Sachs, Trump's "crypto" tsar and early PayPal investor, just so happens to hold significant amounts of and frequently promotes - is needed to purchase the issued tokens, have surged almost 40% the last few days, setting himself and other insiders up for huge profits and massive conflicts of interest.
#TRUMP #Shitcoin #ConflictOfInterest
