Unknown founders of Clive Palmer memecoin fail to cash in on mining billionaire’s ad splurge

Clive Palmer’s people say the mining billionaire has nothing to do with the crypto memecoin that uses his image. Picture: Getty Images

Mad props to the would-be entrepreneurs that tried to take advantage of Clive Palmer’s massive advertising blitz during the recent federal election to float their own crypto coin bearing the Queensland businessman’s image.

Anybody who tried to watch a video on YouTube this year has probably been confronted with a plethora of advertisements for Clive’s Trumpet of Patriots, positioned to align closely with the great love Australians hold for US President Donald Trump.

And, given Trump has been no slouch and cashing in on crypto through his very own $TRUMP memecoin, what better way to take advantage of Clive’s ad budget than float Australia’s own version?

Palmer’s people tell Margin Call that the Queensland billionaire has nothing to do with the idea – though we suspect he may now wish he’d thought of it first.

And the unknown founders of CLIVECOIN have also been at pains to distance the meme from the real businessman – no doubt Palmer’s well-known love of litigation has something to do with that.

Sadly for all, Palmer’s failure at political advertising also appears to have taken its toll on the memecoin founders. After spiking to a peak of 0.035c a few weeks ago, CLIVECOIN has since been faced with a sea of selling, and was last worth only about 0.017c.