# Trump Planning 'Biggest Heist In History' With Crypto 'Rug Pull Scam'

As we delve into the world of cryptocurrency and its potential implications on taxpayers and small investors, it's essential to examine the latest developments surrounding Donald Trump's "Strategic Crypto Reserve" initiative.

Last month, hackers made off with Ethereum coins worth $1.5 billion from Bybit, a Dubai-based crypto exchange – a staggering theft that has left many in awe. The FBI believes that North Korean regime was behind the hack, with most of the stolen coins already laundered into Bitcoin and set to be converted into real money that will support Kim Jong Un's brutal dictatorship.

However, this heist is just one aspect of a larger scheme promoted by Trump. His plan for a "strategic crypto reserve" has sparked concerns among economists and experts, who warn that it could leave taxpayers and small investors vulnerable to hackers and scammers. The term "rug pull" is often used to describe these types of scams, where insiders sell their holdings while small players buy in, only to see the price collapse and leave them with significant losses.

So what exactly is a rug pull? According to Paul Krugman, award-winning economist and Substack author, it's a textbook example of how this scam works. "You introduce a new asset, often with celebrity endorsements," he explains. "Small investors buy in while insiders sell out, making huge profits. Then the little people are left with big losses." This is similar to what happened in Argentina when President Javier Milei touted a new cryptocurrency called $Libra, only to see its price soar before collapsing and leaving small players with worthless assets.

"It's like a hack pump and dump," Krugman warns. "The U.S. government buying the stuff is just strings of ones and zeros on servers somewhere, with no clear value or purpose." This lack of understanding about what the strategic crypto reserve will do for the United States is alarming, especially given Trump's reputation for promoting get-rich-quick schemes.

During an interview with CNN's Erin Burnett, Krugman expressed his concerns about this plan. "I'm not sure that he probably thinks those guys were smart," he said, referencing the North Korean hackers who pulled off the $1.5 billion heist. "We're pretty sure we know who those guys were." This lack of understanding and awareness is staggering, especially given the risks involved in such a scheme.

"It's truly amazing because nobody has any idea what you do with, you know, a crypto reserve," Krugman said. "What does that do for the United States? BURNETT: Right. And certainly, you know, I mean, I understand money is faith in its own way." However, when it comes to cryptocurrency and strategic reserves, faith alone is not enough – action and transparency are required.

"Sadly, nothing is 'amazing' these days with this criminal in the White House," Krugman concluded. As we move forward, it's essential that taxpayers and small investors remain vigilant and informed about these types of schemes. The consequences of such actions can be severe, and it's up to us to ensure that our leaders are held accountable for their decisions.

Stay tuned for further updates on this developing story as more information becomes available. In the meantime, keep your wits about you and remain cautious when dealing with cryptocurrency investments or any other financial schemes.