#Trump Organization Co-Founder Sells Tokens#
Hot Topic Overview
Overview
Ryan Fournier, co-founder of the Trump Students organization, is facing controversy after selling half the supply of his Meme coin TIKTOK, created to celebrate TikTok's unbanning. Fournier claims he was defrauded by the token's creator Asta, but Asta denies the allegations. The incident led to a plunge in TIKTOK's market cap from $90 million to $5 million. Fournier admitted to selling his 50% stake in TIKTOK and pledged to compensate investors with $50,000. While Fournier denies profiting from the deal, the event has raised questions about trust between token creators and investors.
Ace Hot Topic Analysis
Analysis
Ryan Fournier, co-founder of the Trump Students organization, has sparked controversy for selling half of the supply of the meme coin TIKTOK, created to celebrate TikTok's unban. Fournier claims he was tricked by the token's creator, Asta, and has pledged to compensate investors $50,000. The incident stems from Fournier's partnership with Asta to create the TIKTOK token, with Fournier receiving 50% of the supply. The token quickly rose in value, with a market cap exceeding $90 million at one point. However, when the price began to drop, Fournier admitted to selling his holdings, leading to a crash in the market cap to $5 million. Fournier denies profiting from the sale and insists he was deceived by Asta, but Asta denies this, claiming Fournier sold all his tokens immediately after he posted about it. Currently, neither Fournier nor Asta has responded further to the incident.
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 85%.
Fournier claims he was scammed by token founder Asta, but has promised to compensate investors $50,000.
Fournier denies profiting from the transaction and insists he was misled by the token creator.
Asta claims Fournier dumped all his tokens immediately after he posted the message, and accuses Fournier of being a scammer.