How I shorted $TRUMP coin (and got to have dinner with the President)

Last month, Donald Trump pushed the boundaries of authorities and fiscal morals by announcing a contest: whoever bought and held the highest magnitude of the $TRUMP meme coin for an full period would triumph an invitation to a backstage meal with the President. That meal took spot connected Thursday astatine the Trump National Golf Course successful Virginia, with attendees reportedly dropping astir $394 cardinal connected $TRUMP successful bid to triumph the privilege.

According to an investigation by The Guardian of the winners' wallets, implicit fractional of them mislaid wealth participating successful this contest. But that's lone if you're analyzing the wallets disposable connected the contention site's leaderboard. The existent wealth was being made elsewhere.

I interviewed an enthusiastic crypto trader who figured retired however to triumph the contention without losing immoderate money: bargain capable $TRUMP to get onto the leaderboard - and past successful a abstracted wallet connected a abstracted exchange, bargain $TRUMP perpetual futures that would beryllium profitable if (or arsenic helium saw it, when) the worth of $TRUMP dropped. Yes, helium did The Big Short, except with Donald Trump's meme coin. "Bet you 10 percent of meal participants are doing this," …

Read the afloat communicative astatine The Verge.