As President Donald Trump was sworn into workplace because the forty seventh President of the US on Monday, grifters and opportunists have been already searching 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 referred to as $TRUMP to “have fun our win and have enjoyable,” warning that it was “not supposed to be … an funding alternative.” Trump introduced the launch on X and Fact Social, with many questioning if the president’s accounts had been hacked.
Nonetheless, inside hours, 1000’s had invested within the cryptocurrency. The sale was so profitable that, at billions of {dollars}, it accounted for nearly 90 p.c of Trump’s general wealth. Nonetheless, like plenty of memecoins, the $TRUMP coin’s worth fluctuated wildly and dipped considerably on Sunday, with the worth drop persevering with into Monday.
On the time he was sworn in as president on Monday, the $TRUMP memecoin was value 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 anyplace on the earth to funnel cash on to the US president.
First Girl 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 value nearly $8 billion on Monday.
The president and first girl have been removed from the one ones searching for to money in on the thrill round Trump’s second time period, and the inauguration weekend specifically. Since his first time period in workplace, Trump has been a magnet for all sorts of grifts and money grabs, lots of them endorsed by the president himself, and together with all the pieces 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 sizzling 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 bought out.
A raft of different commemorative gadgets are on sale, starting from dozens of “Inauguration Day” t-shirts and hats being bought on platforms like Amazon and Etsy to a particular “Inauguration Version” roast from Victory Espresso. A Texas-based jeweller is even providing to present 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 because of extreme chilly climate, tens of 1000’s of people that had been despatched tickets to attend the occasion have been unable to make use of them. Folks 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 have been distributed free by members of the Home of Representatives and have a hologram and the signature of the consultant whose workplace issued them. Most of the listings have already been bought, with some sellers providing a number of tickets.
A selected 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 consequence 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 total careers grifting on subjects like stolen elections or COVID denialism.
