Veteran Democratic political strategist James Carville has sharply criticized individuals who lost money investing in the $TRUMP memecoin, labeling their financial decisions as "stupid." Carville's remarks, made in a video for Politicon, targeted the nearly 1 million investors who reportedly incurred losses totaling $3.81 billion.
These losses were detailed in a report by cryptocurrency analytics firm Nansen, cited by The New York Times. The development follows President Donald Trump's annual financial disclosure, which revealed he earned over $635 million from a licensing agreement with CIC Digital LLC, the entity responsible for marketing the $TRUMP coin.
Carville humorously suggested that the "hardworking people" who lost money might be subject to "economic Darwinism, survival of the fittest." He posited that heirs of those who made what he deems "stupid" financial choices might be better off without the inherited wealth, implying a genetic component to financial acumen. "There's some kind of economic Darwinism that has to be in effect here, but if you gave that guy money, I'm sorry, I can't stop laughing at you," Carville stated.
He concluded by expressing a hope that future generations might learn from these events, adding, "There's some kind of economic Darwinism that has to be in effect here, but if you gave that guy money, I'm sorry, I can't stop laughing at you."