#Trump Student Organization Co-Founder Exposed for Selling Tokens#
Hot Topic Overview
Overview
Ryan Fournier, co-founder of the Trump Students organization, has sparked controversy after 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 exceeding $90 million, but Fournier's sell-off caused the market cap to plummet by 85%. Fournier claims he was misled by token founder Asta, but Asta has denied the allegation. Fournier has pledged to compensate investors $50,000, but investors are unhappy with his actions. Following the incident, Fournier has faced severe criticism from traders and been accused of fraud.
Ace Hot Topic Analysis
Analysis
Ryan Fournier, co-founder of the Trump Students organization, has sparked controversy by selling his 50% supply of TIKTOK tokens. The token was created as a meme coin to celebrate the unbanning of TikTok and had a market capitalization of over $90 million at one point. Fournier claims he was deceived by token founder Asta and promised to compensate investors $50,000. However, on-chain data shows that Fournier exchanged 505 million TIKTOK tokens for approximately $700,000 in SOL and denied profiting from the transaction. Asta accused Fournier of dumping the tokens immediately after his message, causing the market capitalization to plummet 85%. Currently, both parties have not responded further to the matter. The incident has raised investor concerns about the transparency and integrity of token projects, as well as the lack of regulation in the meme coin market.
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 value to plummet by 85%.
Fournier claims he was tricked by token founder Asta, but promised to compensate investors $50,000.
Fournier denies profiting from the token sale and insists he was deceived by the token creator.
Asta claims Fournier dumped all his tokens immediately after he released the news and said he was tricked by Fournier's actions.