cross-posted from: https://lemmy.world/post/48169514
Some fighters will receive bonuses in ‘stablecoins’ issued by Trump family business World Liberty Financial
The Ultimate Fighting Championship (UFC) announced on Friday that it will pay bonuses to fighters in a form of cryptocurrency issued by Trump family business World Liberty Financial at the heavily publicized White House mixed martial arts event on Sunday.
The development connects the Trump family’s financial interests to the high-profile UFC competition being promoted on government property. The competition on the south White House lawn is scheduled for 14 June, Donald Trump’s birthday.
The UFC said some fighters will receive bonuses in World Liberty Financial crypto called “stablecoins”, whose value is pegged to the US dollar. World Liberty named the currency “USD1”.
Hahahahaha I can’t wait for this pump and dump.
Maybe some CTE riddled MMA fighter will get pissed and take matters into his own hands
PLEEEEEAAAASSSEEEEE Let all the fighters refuse to fight without actual payment!!!
Getting UFC fighters to unionize on a cause might be an impossible task. They’ve all been complaining about their pay their whole careers but won’t unionize. The one time they did the fighters. just settled for payouts instead of an actual change in the company.
I love the sport and some of the fighters but I hate UFC and how much of a bitch these fighters are to the organization (and trump).
Edit: typos
Turns out getting kicked in the head for a living is associated with making other bad decisions.
Fair enough
“Well, I had to uninvite all the weak and pathetic UFC fighters, just like I did for all those no-talent musical acts. What can I say, folks, everyone’s a loser but ME. So to celebrate America’s two hundred and fiftieth birthday, let’s all just listen to me talk for two hours. Gotta give the people what they want, I always say.”
Think we can convince him that he’s so fit and strong he could definitely take on some champion fighters himself?
Every Trump Dollar will be worth 5 real dollars. That is the exchange rate the treasury will implement, when I hijack their democracy.
No. Fuck you. Pay me my money.
At least it is a stablecoin and not some crappy meme one.
It is still bad, but mot as much as I feared by the headline.
Edit: I know crypto is just scam. But there is a tiny difference between stablecoin and other coins.They’re a bullshit currency the pedo-nazi regime is printing up, and worth exactly the same amount as Schrute Bucks.
Well stable coins are worth 1:1 of what the currency they’re pegged to is.
If people are willing to trade real money for it, then it has worth. That’s literally how all money works, it’s all fake.
However, since this is Trump, we can be pretty sure that this “stable coin” isn’t actually backed by real money (other stable coins like USDC go through an extensive audit process to ensure the assets are backed by fiat currency), so who knows what kind of sketchy shit will happen when they all try to cash it in at once.
If they can even sell it. One of the other Trump coin pump and dump schemes involved blocking selling by anyone except a couple select people. So even if someone knew it was a pump and dump, and wanted to try to time it right to make some money, they couldn’t even do that because they couldn’t sell the coins.
Crypto is a ponzi scheme. And gambling.
Seriously. Listening to podcasts on the run-up to the stock crash is so maddening. Almost 100 years have gone by and people have learned nothing.
Greed is eternal.
And 10% of investors do make money on crypto! So you could be one oc them! It is like lottery just with all of your life savings spent on it!
My absolute favorite part is Bitcoin/etc coin ETFs. Why the heck would you not do self custody if you decided to invest in a lottery ticket?I’d argue we have learned. The problem is the fox got back in the henhouse after we took it out.
The general question which I don’t think any of us have answers for is when we correct this again how do we make it permanent?
To paraphrasee the great Team America there will always be Dicks, Pussies and Assholes.
The problem is the fox got back in the henhouse after we took it out.
Yep. Sweeping market regulations were put in place after the stock market crash that led to the Great Depression.
Most of those reforms have already been removed now, in the ever-popular name of ‘removing unnecessary regulation’.
To quote the great Battlestar Galactica:
This has all happened before.
This will all happen again.The Trekkian belief in inevitable progress is an illusion. Humans are trapped by their psychology into corrupt systems until we destroy ourselves.
Until then, it’s just a cycle of learning from our mistakes, to forgetting those lessons, to repeating those same mistakes, again, and again, and again.
Humans are trapped by their psychology into corrupt systems until we destroy ourselves.
Honestly, I think the Singularity – real superintelligent AI – might be our only chance of escaping this cycle of stupid. There’s a chance that our new AI overlords could be benevolent and above this petty human bullshit.
There was just an article on the front page somewhere about putting llms in charge of civilization in simulation. Claude’s lasted the longest–ten days. Grok killed everyone in 3.
Well, in general, yes.
But these multiple different Trump-coins … they’re just fraud and grift. They serve as psuedo-legal ways for rich people to buy political influence, and they serve as ways to extract more money from their idiot followers.
Other forms of crypto – forms that are actually trying to grow and be traded – are indeed ponzi schemes and gambling. But Trumpcoins don’t even rise to that level.
And that’s why i was surprised because they are getting a stablecoin vs trump backed meme coin that would gain liquidity by plastering its name in the news.
Stablecoins are a bit better.
Stable like how trump is a “stable genius” 😂
Indeed :)
