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.
Even worse, they are used for lot of criminal cases, like human trafficking, childporn, drugs, weapons and more.
Like 95% money laundering, drugs and tax avoidance scams, like 5% everything else.