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this post was submitted on 13 Jan 2025
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TechTakes
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Big brain tech dude got yet another clueless take over at HackerNews etc? Here's the place to vent. Orange site, VC foolishness, all welcome.
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(oh no it's politics)
Trump's new cryptocurrency scheme is surprisingly forthright about being a pump & dump:
Essentially according to their own website, they started by selling 20%* of the tokens to the public, and over the next few years will... sell another 80% of the tokens to the public. To the moon!
* half of that they describe as "liquidity" instead of public distribution -- whatever that means.
My gut says that liquidity in this context means "making sure that there are tokens available to purchase for initial buyers" or in other words listing them on the market instead of distributing them at initial purchase price.