{"id":20455,"date":"2025-01-20T11:01:26","date_gmt":"2025-01-20T09:01:26","guid":{"rendered":"https:\/\/forklog.com\/en\/controversial-activist-offloads-50-of-tiktok-memecoin-supply\/"},"modified":"2025-01-20T11:01:26","modified_gmt":"2025-01-20T09:01:26","slug":"controversial-activist-offloads-50-of-tiktok-memecoin-supply","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/controversial-activist-offloads-50-of-tiktok-memecoin-supply\/","title":{"rendered":"Controversial activist offloads 50% of TIKTOK memecoin supply"},"content":{"rendered":"<p>Ryan Fournier, chair of Students for Trump, faced a backlash after selling half the supply of a memecoin created to celebrate the lifting of the ban on TikTok in the United States, <a href=\"https:\/\/www.theblock.co\/post\/335663\/students-for-trump-co-founder-denies-rug-pull-accusations-after-selling-half-of-tiktok-memecoins-supply\">The Block<\/a> reported.<\/p>\n<p>On January 19, Fournier floated the idea of a memecoin, Official TIKTOK COIN (TIKTOK). An X user going by Asta created the coin on Pump.fun and sent the activist half of the supply. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">reply with ur wallet address, ill send you 50% of this <a href=\"https:\/\/t.co\/7pcj9wWUl7\">https:\/\/t.co\/7pcj9wWUl7<\/a><\/p>\n<p>\u2014 asta (@astaxsol) <a href=\"https:\/\/twitter.com\/astaxsol\/status\/1881040923896979857?ref_src=twsrc%5Etfw\">January 19, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The token quickly <a href=\"https:\/\/pump.fun\/coin\/FW7aAw92HWnWrUmGe4HHrdHjqshQ2CnyFMqBkSDnpump\">surged in price<\/a>, reaching a market capitalisation of more than $90m. But that evening, as prices began to fall, Fournier admitted he had sold his holdings. A wallet he had previously identified as his <a href=\"https:\/\/solscan.io\/account\/9HhafAZc6jo6rXxeJ7F4RN1BQfsTm6xLRs6YYAq6nhAn\">swapped<\/a> 505 million TIKTOK for 2,800 SOL ($700,000). After that, the coin\u2019s capitalisation plunged to $5m. <\/p>\n<p>At first, Fournier tried to justify the move by citing fears of a scam, claiming that Asta had been the first to sell, although the latter\u2019s <a href=\"https:\/\/solscan.io\/account\/2uE5yRmYGjEWHvm7akbXEciRUFA52oLJb5XQBd5LLCYG?token_address=FW7aAw92HWnWrUmGe4HHrdHjqshQ2CnyFMqBkSDnpump#transfers\">wallet<\/a> shows no such transactions.<\/p>\n<p>Asta, who said the project was an attempt to <a href=\"https:\/\/twitter.com\/astaxsol\/status\/1881075042966266057\">\u201cstart a cool movement\u201d<\/a>, put full responsibility for \u201cstealing money\u201d on Fournier.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">that stupid <a href=\"https:\/\/twitter.com\/RyanAFournier?ref_src=twsrc%5Etfw\">@RyanAFournier<\/a> sold EVERYTHING I SENT HIM, he said he would never sell and that he was contacting tiktok. <\/p>\n<p>this guy really just stole so much money <a href=\"https:\/\/t.co\/WGweALOUTc\">https:\/\/t.co\/WGweALOUTc<\/a><\/p>\n<p>\u2014 asta (@astaxsol) <a href=\"https:\/\/twitter.com\/astaxsol\/status\/1881084045867855999?ref_src=twsrc%5Etfw\">January 19, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Later the activist said he had succumbed to a panic sell-off. <\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;I wasn\u2019t going to sell, [&#8230;] and then suddenly the token started dropping at a speed I had never seen and people started selling. I didn\u2019t know what the guy who created it was doing, so I just\u2026 I screwed up and it\u2019s my fault,&#8221; he wrote on X. <\/p>\n<\/blockquote>\n<p>Even so, Fournier denied making any profit from the sale, insisted he had been deceived by the token\u2019s creator and, in one post, even promised to \u201cmake it right\u201d.<\/p>\n<p>The activist said he planned to \u201cstay away from crypto\u201d until he understood \u201cwho can be trusted\u201d. He also boasted of purported ties with Donald Trump\u2019s crypto advisers and a position in the president\u2019s administration. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Staying away from Crypto.<\/p>\n<p>I tweeted a few times today about <a href=\"https:\/\/twitter.com\/search?q=%24Trump&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$Trump<\/a> and a newly created coin called <a href=\"https:\/\/twitter.com\/search?q=%24TikTok&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$TikTok<\/a>.<\/p>\n<p>I had someone reach out earlier, and they wanted to make a coin to support TikTok\u2019s comeback.<\/p>\n<p>That turned out to be a chaotic mess, because I was scammed by said\u2026<\/p>\n<p>\u2014 Ryan Fournier (@RyanAFournier) <a href=\"https:\/\/twitter.com\/RyanAFournier\/status\/1881097379719623151?ref_src=twsrc%5Etfw\">January 19, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier, Fournier repeatedly promoted the memecoin Restore The Republic (RTR), claiming Donald Trump was involved in its creation. The token <a href=\"https:\/\/u1f987.com\/en\/news\/token-rtr-plummets-95-following-trump-family-denial\">plunged by 95%<\/a>, after Eric Trump called those rumours \u201cabsolutely false\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ryan Fournier, chair of Students for Trump, faced a backlash after selling half the supply of a memecoin created to celebrate the lifting of the ban on TikTok in the United States, The Block reported. On January 19, Fournier floated the idea of a memecoin, Official TIKTOK COIN (TIKTOK). An X user going by Asta [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20454,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1161,1246,26],"class_list":["post-20455","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-memes","tag-scammers","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/20455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=20455"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/20455\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/20454"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=20455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=20455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=20455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}