John Oliver returned to "Last Week Tonight" with a sharp critique targeting former President Donald Trump's involvement in the crypto world. The TRUMP memecoin, closely associated with the ex-president, dropped around 6% to $1.48 amid Oliver's blistering remarks. Meanwhile, Bitcoin hovered near $63,460 after a 2% dip, reflecting cautious market vibes before upcoming economic announcements.
Oliver spotlighted a staggering figure: Trump's crypto-related ventures reportedly brought in about $1.4 billion of the $2.2 billion income he earned during his first year back in office. This haul included investments in NFTs, memecoins, and the controversial World Liberty Financial. The comedian called Trump the "first crypto president," outlining his transformation from a Bitcoin skeptic to a digital asset promoter.
The HBO segment framed the TRUMP memecoin as a textbook pump-and-dump scheme. Oliver accused insiders of offloading their holdings at peak prices, leaving many retail investors facing significant losses. His critique underscored the risks tied to celebrity-endorsed crypto projects and the murky connections swirling around Trump’s crypto enterprises.
