Donald Trump and his fans are losing big on the crypto marketplace following his guilty verdict, despite his bragging just days earlier that he was confident in cryptocurrency.
As news of the verdict broke Thursday, the TRUMP token fell 35 percent, while a memecoin for President Joe Biden called “Jeo Boden” grew 20 percent.
Trump may have personally lost money last night too. According to blockchain data tracked by Arkham Intelligence, the former president reportedly holds assets worth approximately $10 million, with sizable amounts of MAGA tokens, ethereum (ETH), and MAGA VP tokens.
Alongside these memetokens, Trump has launched three NFT collections since December 2022, including the “Mugshot Edition NFTs.” But as the hush-money trial began in late April, the first edition of the Trump Digital Trading Card’s trading volumes fell 99 percent in 30 days.
Trump has bet heavily on a cryptocurrency payoff. Earlier this month, he spent one of his few days off the trial courting NFT buyers at a dinner in Mar-a-lago. Shortly after, he vowed to “build a crypto army.” And on Thursday, just hours before the verdict, Bloomberg reported that Trump was discussing crypto policy with Elon Musk.
While Musk denied specifically talking about crypto, it does appear that the Trump campaign is looking for an advisory role for Elon if he wins a second term.
Meanwhile, Trump and his allies are losing on standard markets too, with Truth Social stocks plummeting as much as 15 percent on Thursday.
Despite Trump’s myriad monetary failures, crypto traders at Polymarket, the blockchain-powered betting site, are still banking on Trump defeating Biden—putting his odds of winning at 54 percent—even after the conviction. Traders are also placing $900,000 wagers on whether Trump will see the inside of a jail cell by November, with some saying he has a 17 percent chance of imprisonment.
Ultimately, let’s hope the only blocks and chains Trump is involved with in the next year are in a cell block.
Representative Lauren Boebert’s attempts to highlight her congressional track record may have unintentionally damaged her reelection campaign.
Fending off criticism Thursday night during a Republican debate for Colorado District 4 representative hopefuls, Boebert attempted to draw attention to her work in the House—but ended up having to admit to her minimal accomplishments.
“For Ms. Boebert, how many bills did you prime-sponsor … in the U.S. Congress that actually were signed by the president of the United States?” asked state Representative Richard Holtorf, noting that “anybody can put their name on a bill after it passes” and become a co-sponsor.
Boebert immediately attempted to dodge the question, hitting the local conservative and primary competitor for having a “failing Liberty score,” a measure of a conservative’s policy stances.
“Would you like to answer the question, or would you like to talk about Liberty scores?” pressed Holtorf. “You can answer the question, ma’am, it’s OK. I asked a very specific question, please answer it.”
“I certainly will. One of my favorite pieces of legislation that has been signed into law is my Pueblo Jobs Act that creates at least 1,000 jobs in Pueblo, Colorado,” Boebert said, not revealing that that is actually the only bill she’s prime-sponsored that has become law.
“But there are also many other pieces of legislation that I’ve passed through the House—” she continued, before getting cut off by Holtorf, who clarified that “it doesn’t matter if it’s passed through the House. If the president doesn’t sign it, ma’am, then it doesn’t get passed.”
But the debate moderators gave Boebert one more chance to elucidate her congressional scorecard after her speaking time ran out.
“So my Pueblo Jobs Act—” she started, before the moderator insisted on a number.
“That is one,” Boebert finished weakly.
Rep Lauren Boebert’s GOP opponents criticized her as ineffective and uninformed. After much prodding, Boebert acknowledged how many of her own bills (prime sponsor) have become law: one. pic.twitter.com/2bn1YGn8n1
— Kyle Clark (@KyleClark) May 31, 2024
Boebert’s time in Congress, instead of being spent working on legislation for her constituents, has been sprinkled and seasoned with scandal. In September, the gun-toting Republican was caught vaping, recording, loudly singing along, and fondling her date during a performance of Beetlejuice in Denver, causing her and her date to get kicked out of the theater for “causing a disturbance.” And in February, the Colorado representative’s son was arrested in the city of Rifle over a string of thefts.
