#Trump Student Organization Co-Founder Sells Tokens#
Hot Topic Overview
Overview
Ryan Fournier, co-founder of the Trump student organization, has sparked controversy for selling his 50% stake in the TikTok token supply. The token was created to celebrate the lifting of the ban on TikTok and once had a market cap of over $90 million, but Fournier's sell-off caused it to plummet to $5 million. Fournier claimed he was misled by the token founder, Asta, but Asta denied the allegations and said that Fournier sold all his tokens immediately after he posted his message. Fournier denied profiting from the sell-off and promised to compensate investors $50,000. The incident has raised questions about whether Fournier's actions constitute fraud and whether investors should be wary of this type of token.
Ace Hot Topic Analysis
Analysis
Ryan Fournier, co-founder of the Trump Students organization, has sparked controversy after selling his 50% stake in a TikTok token supply. The token, created to celebrate TikTok's unbanning, once had a market cap exceeding $90 million, but Fournier's sale caused the value to plummet by 85%, dropping to $5 million. Fournier claims he was deceived by the token's founder, Asta, and promised to compensate investors $50,000. However, Asta denied Fournier's allegations, stating that Fournier was aware of his plans before selling the tokens. Currently, neither Fournier nor Asta has responded to requests for comment. The incident has raised concerns about the lack of regulation and transparency in the meme coin market, highlighting the fragility of trust between token founders and investors.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Trump student organization co-founder Ryan Fournier sold 50% of the TIKTOK token supply, causing the project's market cap to plummet 85%, Fournier claimed he was deceived by token founder Asta, but promised to compensate investors $50,000, Asta denied the fraud allegations and said he just wanted to start a cool campaign, Fournier denied profiting from the token sale and insisted he was deceived by the token creator