TechFlow news, January 20 — According to The Block, Ryan Fournier, co-founder of Students for Trump, admitted during an X Space session to dumping his entire 50% allocation of the TIKTOK token supply, causing the project's market cap to plummet from $90 million to $5 million. The token was originally launched to celebrate TikTok's reinstatement in the U.S.
Asta, the project's founder, had posted five minutes before the dump that he gifted Fournier 50% of the token supply. However, Fournier immediately sold all of it. Fournier claimed he is a crypto novice and was deceived by Asta, saying he "lost almost everything" and promised $50,000 in compensation to affected investors. Blockchain records show Fournier’s wallet has a five-month trading history. Previously, he was publicly rebuked by Eric Trump for spreading false claims about Donald Trump’s involvement with the RTR token.
