#Trump Student Organization Co-Founder Sells Meme Coin#
Hot Topic Overview
Overview
Ryan Fournier, co-founder of the Trump Student Organization, has sparked controversy by selling his 50% stake in the TikTok token supply. The token, which was designed to celebrate the unbanning of TikTok, had a market cap of over $90 million at its peak. However, Fournier's sale caused the market cap to plummet to $5 million. Fournier claims he was misled by the token's founder, Asta, but Asta denies the accusation. Fournier has promised to compensate investors $50,000, but traders have been highly critical of his actions, accusing him of using the token for fraudulent purposes.
Ace Hot Topic Analysis
Analysis
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 as a meme coin to celebrate the unbanning of TikTok, and its market cap once exceeded $90 million. Fournier claims he was deceived by token founder Asta and has promised to compensate investors $50,000. However, on-chain data shows Fournier exchanged 505 million TIKTOK tokens for approximately $700,000 worth of SOL and denies profiting from the transaction. Asta accused Fournier of immediately dumping the tokens after releasing his message, causing the market cap to plummet by 85% to $5 million. Following the incident, neither Fournier nor Asta has responded further to the matter.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Trump student organization co-founder Ryan Fournier sold his 50% 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 said Fournier immediately sold all his tokens after his message was released, and said he was deceived by Fournier, Fournier denied profiting from the sale, and insisted he was deceived by the token creator