this post was submitted on 18 Jan 2025
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President-elect Trump launched his own cryptocurrency overnight and swiftly appeared to make more than $25 billion on paper for himself and his companies. 

Why it matters: The stunning launch of $TRUMP caught the entire industry off-guard, and speaks to both his personal influence and the ascendancy of cryptocurrency in his administration.

  • It also speaks to the nature of the crypto industry that someone could have $25 billion worth of something that literally did not exist 24 hours previously.
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[–] jpreston2005@lemmy.world 51 points 6 hours ago (5 children)

Please someone explain how this is in any way legal. This is fucking absurd. The amount of hatred I have for every racist imbecile that supported this rapist fascist felon is too much for me to bear. The logical thing to do would be to just ignore everything because my mental well-being is more important, but this seems like some historic occurrence that should be stopped by any means necessary.

[–] joel_feila@lemmy.world 1 points 6 minutes ago

Crypto is legally a type of stock in the usa. So has long as trum doesn't do anything that would get him on the hook for stock or security fraud he is in the clear

[–] brown567@sh.itjust.works 3 points 47 minutes ago* (last edited 30 minutes ago) (1 children)

~~Repugnantcans~~ The party of misanthropic fascist vermin cheated the system to stack the highest court in the land with loyalists who now nearly unconditionally support anything Trump says/wants. It's legal because they literally put in writing that any/everything he does is.

Edit: you right

[–] Nutteman@lemmy.world 0 points 42 minutes ago

Repugnantcans is trying wayyyyy too hard.

[–] 5oap10116@lemmy.world 33 points 5 hours ago (2 children)

There's no rule saying a dog can't play basketball

[–] sem@lemmy.blahaj.zone 1 points 55 seconds ago

There's a movie about it though

[–] GBU_28@lemm.ee 3 points 37 minutes ago

Do not bring air bud into this

[–] SkyeStarfall@lemmy.blahaj.zone 16 points 4 hours ago

Why should legality matter? What are laws? It's rules that the government put down for everyone to follow. And what happens if someone controls all aspects of the government?

Legality is meaningless in the face of fascism, because the fascist government will be making the laws. it's like asking why it wasn't illegal to do genocide in nazi Germany. Or asking why it wasn't enforced by law to hide jews from the nazis to protect them

Legality is not relevant. Legality is not morality or a foundation for ethics. Legality is just the will of the government, for better or for worse. It is not something that necessarily serves the people's beat interests

[–] NoneOfUrBusiness@fedia.io 6 points 4 hours ago

I mean nothing stops you from creating a new cryptocurrency, so it was kinda inevitable.