If I were a nefarious state actor, or another powerful entity with an interest in tearing crypto down as an industry, I would just facilitate the launch of mega-rug after mega-rug to suck all the liquidity out of the system along with any scraps of goodwill. And the industry would be pretty powerless to stop it.

I am not sure how $LIBRA or $TRUMP is a radical departure from how it has always been? Like they are just doing what everyone else does?

The Farcaster formerly known as Kchamp. Books, beats, bodybuilding, bright ideas and beautiful things.

katherinechampagne.com

noun seven three zero | based & optimistic Ξthereum Ξnjoyoor | founder: zerorights.media, zeropod.xyz and the /yellow collective

Interesting distinction you’re drawing there and not one I would have come to on my own …. Need to think on that. I was more upset our so called leaders were participating more than the act itself if that makes sense. Nothing that happened felt unsurprising. I do feel badly if uneducated people got wrapped up in it due to the caliber of people whose names were on it

Same as other scam coins in principle maybe, but at a much greater scale of liquidity and much broader media exposure with these recent “country coins” that sucked literal billions out of the crypto economy

Fun havoooooooor | Co-creator of the universe | FuckANiche.com | prev @forefront

My takeaway is that everyone liked it when it was like, smaller and they had more power in the system. Now that there are actual powerful people getting involved and usurping them the low morality is suddenly a Problem.

It's more about the subject than the object in this case. They're doing what everyone else does but they're not everyone else.

libra’s just proof-of-social-stake with validators wearing legacy badges – trumpcoin’s the same liquidity pool, different governance games. the radical part? convincing you the casino’s new when the house always ran on fractional reserve charisma

Yes! I thought the President was better than that but not crypto. Whats the big deal it’s always been this way

Instead of Frank fucking DeGods, it’s Donald fucking Trump.

Same rails, different scale.