The overwhelming majority of $TRUMP investors may have lost their money on the president’s meme coin, but James Carville has another suggestion for how the president can repay them.
In a May 8 episode of his podcast Politics War Room, Carville and co-host Al Hunt discussed the president’s ill-fated meme coin, which lost money for approximately 764,000 of its investors while turning a massive profit for just 58.
The co-hosts had little sympathy for those who lost their money. Hunt said there’s “no hope” for people who “don’t know by now that Trump is a scam guy.” Meanwhile, Carville had a more proactive suggestion for anyone “stupid enough” to have invested: “Get out the goddamn gene pool.”
Elaborating on this theory, Carville suggested the thousands of people who invested in $TRUMP should be offered “free vasectomies or free birth control.”
“Don’t have children, okay?” requested Carville. Hunt agreed with the suggestion and said he had no “sympathy or empathy” to give to anyone naive enough to have spent money on the meme coin.
As with most meme coins, $TRUMP has been a volatile investment since it launched in January, fluctuating wildly in price. The coin debuted just days before the inauguration, and immediately shot to a whopping $15 billion value when the president promoted it across social platforms. However, its value plummeted within a few days of the announcement and has never recovered. It is currently valued at around $2.17 billion.
It may not help matters that the meme coin is actively under congressional investigation to determine whether it’s a conflict of interest for Trump, as 75 percent of its revenue goes directly to his family. Just this week, Democratic Senator Richard Blumenthal announced his inquiry into the Trump family’s crypto activity.
The same day, Democratic House Representative Maxine Waters introduced a discussion draft to ban lawmakers, including the president, from owning or benefiting from crypto assets, and Senate Democrats introduced the End Crypto Corruption Act with a similar goal.
The White House has denied any conflict of interest, with deputy press secretary Anna Kelly telling CNBC that the president’s crypto assets are “in a trust managed by his children.”
Despite the controversy, $TRUMP has experienced a sharp uptick in popularity in the last month, in large part because its website has begun advertising a “black-tie-optional dinner” with Trump to the top 220 investors, set for May 22.
Further, the top 25 investors will be invited to a special reception and tour of the White House. Which, evidently, makes it worth losing money over. Since April 15, purchases of $TRUMP have increased by about 100,000 investors.
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