Trump’s meme coin is a reminder of crypto’s dumbest use case
CNN
President Donald Trump promised crypto investors he’d usher in an era of legitimacy for an industry that’s long been relegated to the financial wilderness — dismissed by some mainstream investors as an highly speculative bet at best or an elaborate Ponzi scheme at worst.
President Donald Trump promised crypto investors he’d usher in an era of legitimacy for an industry that’s long been relegated to the financial wilderness — dismissed by some mainstream investors as an highly speculative bet at best or an elaborate Ponzi scheme at worst. But days before his inauguration, Trump shocked many of his crypto supporters by peddling a digital token known as a meme coin, a functionally worthless asset that trades on hype and are a go-to vehicle for scams known as rug pulls. To be clear, not all meme coins are scams, and the $TRUMP and $MELANIA coins appear to have safeguards built in to prevent a rug pull. Specifically, the Trump coin’s website says its majority holders are subject to a three-year unlocking schedule, so they can’t sell all at once. Yet meme coins have become known for rug pulls, in which developers launch a coin, run up its price and quickly cash out. If that sounds familiar, the “Hawk Tuah” influencer Haliey Welch was recently sued over her own coin, which briefly soared to a $500 million market cap before falling 90%. Welch said in a statement posted to X last month that she takes the situation seriously and is working to help affected investors. Meme coins represent the absurd, at times fraudulent, side of crypto that the increasingly wealthy proponents of the widely traded bitcoin and ether would like to move past. The fact that America’s first “pro-crypto” president is hawking a token with no tangible utility has some in the industry concerned about Trump and his advisers’ judgement as they prepare to overhaul the US regulatory regime with a new zeal for digital assets. “Trump needs to fire his crypto advisors, from top to bottom,” tweeted Gabor Gurbacs, founder of digital asset firm Pointsville.
Allen Media Group announced sweeping cuts that will see all of local meteorologists eliminated or reassigned at its nearly two dozen television stations nationwide.
The extraordinary developments for one of America’s most popular social media apps over this weekend will be one for the history books. The banning — and unbanning — of TikTok involved actions from a former president, a sitting president and a future president and gripped 170 million Americans who use the app daily.
Terry Hodge would have a tough time caring for the 150 or so elderly women at Bethany Health Care Center without the dozens of immigrant nursing assistants, housekeepers, dietary aides and other staffers at the Framingham, Massachusetts, facility.
For many of America’s 170 million TikTok users, US President Donald Trump’s move to delay a legal ban of the popular social media platform was cause for celebration. But in China, where TikTok’s parent company is based, the reception has been less positive.
President Donald Trump is expected to outline his trade policy for his second term in an executive action Monday. But that action – described by sources as a “placeholder” – won’t institute new global tariffs that Trump has promised would raise trillions of dollars.
TikTok is now accessible again in the United States. Just how long that lasts will likely depend on incoming President Donald Trump.
The total number of Champagne shipments from France sank by almost 10% last year to 271 million bottles, marking the second consecutive year of declines.
Members of the Teamsters union have authorized a strike against Costco on February 1 unless they reach a deal with the warehouse retailer before the current contract expires on January 31.
When Keith Bussey first opened his Nothing Bundt Cakes location in Northern California in 2019, he exhausted his 401(k) savings, excited to invest in an up-and-coming franchise. And it really helped that the company had a long-standing tradition of offering its franchisees the option to close on Sundays.
Since Trump’s victory in November, the American Business Immigration Coalition has held several dozen in-person and virtual training sessions with more than a thousand employers to prep for the sweeps.
The incoming first couple have launched a pair of meme coins in the leadup to President-elect Donald Trump’s inauguration.
Move over billionaires. The first trillionaires are on their way.
Instagram has made changes in recent days that appear to be aimed at attracting TikTok users while the short-video app’s future remains in limbo.
The clock has run out on TikTok — at least for now.
Federal Reserve officials have worked hard to set interest rates at levels that minimize inflation and maximize employment over the past couple of years. And they’ve been remarkably successful, a historically rare feat to pull off.
Monday, January 20, commemorates the birthday of the Rev. Martin Luther King Jr. This year, the holiday coincides with President-elect Donald Trump’s inauguration, though the majority of business closures will be for MLK Day.
President Joe Biden will leave the White House with a strong economy, historic gains in the job market, a foundation for future manufacturing growth, and having brought down decades-high inflation without triggering a recession.
Europe’s generous welfare states are coming under increasing strain as weak economic growth collides with rising demands on government budgets, particularly from aging populations.