These Trump coins go for $45.
Posted on 12/18/2023 12:04:13 PM PST by lasereye
Former President Donald Trump’s latest business venture sees him return to the world of crypto, once again leveraging a surprising network that he has come to favor within the space: Polygon.
Trump has announced a non-fungible token (NFT) collection, portraying his now-infamous mug shot from Fulton County Jail in Atlanta, minted via the Layer 2, Ethereum-interoperable blockchain network, which currently has an $8.3 billion market cap.
“Former President Donald Trump has backed (Polygon) not once, not twice, but three times total in 2023, making a bold statement into 2024,” explained TheStreetCrypto’s Austin Arnold in the video above. “And this is not just verbal. This is … actively using the blockchain network.”
Perspective: Trump, who is currently leading the Republican nomination race for president in 2024, could be warming up to crypto as he continues to see business revenue generated via Polygon.
“The fact that he has had a good experience once, twice and now this is the third time on his Polygon crypto digital collectible drop, that’s a big deal,” said Aaron Arnold. “This could be very good for crypto if Donald Trump decides to become a fan at a certain point.”
More details: With renewed interest in utilizing Polygon, Trump could be changing his outlook on digital assets following generally negative comments made in public.
“Prior to this, he has actually said negative things about bitcoin specifically,” Aaron Arnold recalled. “I don’t think he really had a great understanding of bitcoin at the time when he said it.”
With yet another NFT launch and recent disclosures that suggest Trump has been profiting from them, more favorable executive policy for the U.S. crypto industry could be forthcoming if and when Trump regains political influence.
“It was disclosed by the United States Office of Government Ethics … that Donald Trump holds, at the time at least, $2.8 million of Ethereum, allegedly because of his relationship from selling these NFTs,” Austin Arnold reported.
Key takeaways: Trump’s NFT collections are just one of many high-profile partnerships that Polygon has forged on its path to becoming a promising altcoin heading into the next crypto bull run.
“(This is a) huge, fundamental green flag for Polygon, because it’s not just Trump, it’s Nike, it’s Meta, it’s Starbucks, it’s the NFL, it’s DraftKings, Adidas, Mercedes, Disney, Coca-Cola, FIFA — all of these companies using or holding Polygon blockchain,” Austin Arnold concluded.
The context: A range of political candidates have come out in support of the crypto industry ahead of the 2024 presidential elections, including Vivek Ramaswamy and Robert F. Kennedy Jr.
Let’s hope this venture turns out better than Truth Social did. I wont be investing.
“Becoming a fan” is a long way from adopting a stance to convert our economy to a digital, cashless system.
Recall Trump University .
LOL .
I think crypto is simply a scam to avoid taxes and launder drug and terrorist monies. If the same people involved in Truth Social’s failure are involved, I’m sure they will repeat the same with crypto.
These Trump coins go for $45.
He’d fire Gensler.
Continuing to fleece the MAGA sheep.
The government would be much more transparent if it ran on a blockchain. You could see where every penny went at any time.
Instead, we have stories of clowns fleecing their fans with NFTs.
If you have any idea of how this stuff is supposed to work…you just shake your head at this foolishness.
(But etherium has been killing it this year, so Trump is making cash.)
Trump just tried to sell old dirty laundry as a collector item to his cult .
Was it Melania’s?
Depending on the pieces I might be interested...
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