There isn't a day that goes by where there's not a story about Donald Trump's attempted forays into the digital value world with another pea-brained venture launching a token, NFT or worse, specially spray-painted gold sneakers. If it wasn't so laughable, Trump's attempts to connect with the digital world would score an F in the spray-on hair class by RONCO itself when it comes to pitching "snake oil" for quick bucks.
Shifting Sands
The end goal is obvious; the man desperately needs additional money inflows to help with campaign costs. Running a presidential election campaign these days is really a plaything of the rich or those backed by the rich. The average person will never be able to even entertain the idea given that a typical campaign now runs in the dozens of billions of dollars to achieve market penetration. That said, Trump is particularly vexed because, thanks to Biden dropping out, the campaign he thought was wrapped up has turned into a financial money pit for is dwindling resources.
The recovery strategy was pretty smart. Trump had already spent a ton of cash to make Biden look bad up to the first debate. So, much of his reserves had been burned away already on the army of campaign activities, marketing, travel, dinners and events and similar. So to suddenly have to ramp up a whole another level to face a brand new Harris campaign could be a financial death-knell for the character who'd rather be giggling saying, "You're Fired!"
Historically, Trump has flat out hated crypto. During his administration he bought into the argument that it would weaken fiat and be a threat to traditional finance, namely a risk to big bankers that Trump liked to think were in his corporate pocket politically. This is the same guy who said BTC was "baseless" and made of "thin air." So, to see him now suddenly embracing digital projects is a flimsy attempt at a rug pull.
There's no argument early NFT projects with Trump's face sold, that probably convinced the former President there's "gold in them thar hills!" Both Trump NFT series sold out quickly, thanks to dutiful MAGA types and hawkers looking to resale the same to doofs throwing away their money online. Now, as the campaign bank account is looking on the wrong side of the fuel tank, nearer to E than F, Trump's team is scrambling for creative ways to generate new cash fast.
Trump's latest promise of a big, new crypto project just about to be released is simply an insult to everyone, especially his most ardent followers. The marketing literally expects people to throw their money in his project's direction because Trump's name is on it. While that might have worked a few years ago, especially right after January 6, it's ringing really hollow now.
If You Support Financially, Then Just Donate
I don't care if readers support Trump; that's your political choice and in a free country you have the right to do that as much as the person who votes opposite. But if you're going to drop your money on his campaign, then just do it directly with a political donation. Don't smear the crypto world even further buying into an obvious digital scam attempt. You only hurt everyone else trying to make crypto work for the greater good.
