As President Donald Trump was sworn into workplace because the forty seventh President of the USA on Monday, grifters and opportunists had been already looking for to money in on the brand new Trump period—together with the president himself.
Simply days earlier than he took workplace, Trump launched a memecoin known as $TRUMP to “have a good time our win and have enjoyable,” warning that it was “not meant to be … an funding alternative.” Trump introduced the launch on X and Reality Social, with many questioning if the president’s accounts had been hacked.
Nonetheless, inside hours, hundreds had invested within the cryptocurrency. The sale was so profitable that, at billions of {dollars}, it accounted for nearly 90% of Trump’s total wealth. Nonetheless, like loads of memecoins, the $TRUMP coin’s worth fluctuated wildly and dipped considerably on Sunday, with the value drop persevering with into Monday.
On the time he was sworn in as president on Monday, the $TRUMP memecoin was price simply shy of $50 billion, with Trump retaining 80 p.c of the cash. The coin, which is constructed on the Solana blockchain, permits anybody wherever on this planet to funnel cash on to the US president.
First Woman Melania Trump additionally launched her personal memecoin on Sunday, and whereas it hasn’t reached the extent of Trump’s memecoin, the $MELANIA coin was price nearly $8 billion on Monday.
The president and first woman had been removed from the one ones looking for to money in on the thrill round Trump’s second time period, and the inauguration weekend particularly. Since his first time period in workplace, Trump has been a magnet for every type of grifts and money grabs, a lot of them endorsed by the president himself, and together with every part from guitars and footwear to buying and selling playing cards and cash.
Faith has additionally been on the desk. Lee Greenwood, a rustic singer, mentioned on Sunday that Trump might use a particular version of the “God Bless The USA” bible for his swearing in—the identical bible the singer has been promoting with Trump since final March.
The “Inauguration Day Version Bible” has been on sale on Greenwood’s personal web site—alongside scorching pink and camo variations of the bible—for $70 for the final week, however as Trump took workplace on Monday, the bible appeared to have already offered out.
A raft of different commemorative objects are on sale, starting from dozens of “Inauguration Day” t-shirts and hats being offered on platforms like Amazon and Etsy to a particular “Inauguration Version” roast from Victory Espresso. A Texas-based jeweller is even providing to reward the president an 8-carat diamond within the form of his head in what seems to be a advertising bid.
And since Trump’s inauguration was moved indoors attributable to extreme chilly climate, tens of hundreds of people that had been despatched tickets to attend the occasion had been unable to make use of them. Individuals have tried to money in on these tickets, with dozens of listings on eBay providing the unused tickets for as much as $200 every. The tickets had been distributed free by members of the Home of Representatives and have a hologram and the signature of the consultant whose workplace issued them. Lots of the listings have already been offered, with some sellers providing a number of tickets.
A particular web site providing commemorative inaugural tickets was additionally arrange, with some tickets supplied for as a lot as $900. It’s unclear who’s behind the web page, however the website is ranked because the second end result on a Google seek for “commemorative inauguration tickets.”
Grifting and money grabs in Trumpworld are nothing new. Ever since Trump got here to workplace in 2016, he and his sycophantic supporters have embraced all kinds of schemes. With Trump help, many figures have made complete careers grifting on matters like stolen elections or COVID denialism.
