The article discusses Detroit pastor Lorenzo Sewell's controversial actions during Trump's inauguration, including launching a meme coin that plummeted in value, costing investors significantly. Sewell, a Trump supporter, invites followers to buy his coin while promoting it as a sustainable investment. Trump's entry into cryptocurrency with his own meme coin, $TRUMP, parallels Sewell's approach, suggesting rapid monetization among Trump affiliates. The article highlights both figures' disregard for investor warnings, raising concerns about the ethical implications of such ventures in a volatile space like cryptocurrency.
"I need you to do me a favor right now. I need you to go buy the official Lorenzo Sewell coin," he said..."never sell on the community but rather just earn fees as our token continues to flourish."
"Days before taking the oath of office, Trump launched his own cryptocurrency meme coin... inviting prospective buyers to join his 'very special Trump Community' and urging them to 'Have Fun!'"
The terms and conditions on... warn prospective $TRUMP buyers that they could incur 'substantial losses,' and require anyone who buys to first agree to waive their rights to a jury trial...
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