Chanos identifies financial gibberish in companies building their models around accumulating Bitcoin.
He draws direct parallels between today’s speculative mania and past booms, viewing the current landscape as a “casino society” where products like meme coins are simply “speculative vehicles for people to gamble on.” He underscores a critical point: “if prices were going down or not going up, none of this stuff would exist.”Chanos has a history of sniffing things out.
Trump II, the digital Caligula's face is on promotions for numerous crypto offerings from digital currencies to tokens to stablecoins to meme-coins.
His latest move is through Trump Media & Technology Group which plans to participate in a SPAC alongside Cryto.com. That SPAC will buy billions in Cronos tokens, the Crypto.com native token. It will be known as Trump Media Group CRO Strategy (MCGA).
TMTG CEO Devin Nunes spoke with several MAGA cheerleaders from Just the News:
Nunes specifically mentioned President Trump in his sales pitch:
Now that President Trump has come in, you have sensible people. He's basically embracing this new technology because as you can see, you can't trust the Fed.
Regarding publicly traded DJT, Nunes added:
....putting that $2 billion of Bitcoin was essentially freeing ourself of ever needing to use banks again. Not that we won't.
Trump operated a real casino back in the day. Today he leads the twin digital casinos of crypto and AI. Roll the dice on either and you really don't know what you have, whether you won or whether the house is just picking your pocket one hand (fee) at a time.
Jim Chanos fraud warning mentioned diamonds or platinum. Devin Nunes TMTG reward system promised gems earned from staking. How long before these two tracks clash?
Maybe sooner, maybe later or maybe never.
