#Trump Student Organization Co-Founder Sells Tokens#
Hot Topic Overview
Overview
Ryan Fournier, co-founder of the Trump Students organization, has sparked controversy by selling his 50% stake in the TIKTOK token supply. The token, created to celebrate the unbanning of TikTok, was once valued at over $90 million but plummeted to $5 million after Fournier's sell-off. Fournier claims he was misled by Asta, the token founder, but investors are not buying his explanation. Fournier admits to profiting from the transaction but claims the profit was minimal and has pledged to compensate investors $50,000. The incident has sparked allegations of fraud against Fournier and raised concerns about regulation and transparency in meme coin projects.
Ace Hot Topic Analysis
Analysis
Ryan Fournier, co-founder of the Trump Student Organization, has sparked controversy after selling half of his supply of the meme coin TIKTOK, created to celebrate the unbanning of TikTok. Fournier claims he was scammed by the token creator, Asta, but Asta denies the accusation. The incident stemmed from a collaboration between Fournier and Asta to create the TIKTOK token, with Asta creating the token and sending half to Fournier. The token rapidly surged in value, reaching a market cap of over $90 million, but the price then began to drop. Fournier admitted to selling his holdings, claiming he was scammed by Asta. Fournier denies profiting from the sale and promises to compensate investors $50,000. However, on-chain data shows Fournier exchanged 505 million TIKTOK tokens for approximately $700,000 worth of SOL, raising questions about his integrity. The incident ultimately led to an 85% crash in the TIKTOK token's market cap, plummeting from $90 million to $5 million.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Trump student organization co-founder Ryan Fournier sold his 50% supply of TIKTOK tokens, causing the project's market value to plummet 85%
Fournier claimed he was cheated by token founder Asta, but promised to compensate investors $50,000
Asta claimed to have given half of his TIKTOK token supply to Fournier and said that Fournier immediately sold all his tokens after Asta posted the message
Fournier denied profiting from the sale and insisted he was cheated by the token creator