A memecoin called Shit Piss Skin Can ($SPSC) jumped over 300% in price after World Liberty Financial, a crypto company backed by President Donald Trump, promoted the cryptocurrency in a tweet on Monday. Why is it called Shit Piss Skin Can? The phrase comes from an infamous rant by a crypto influencer back in 2018 about how you could sell “shit in a can, wrapped in piss, covered in human skin” for a billion dollars at the height of the crypto boom. > Buying $SPSC because the trenches finally found religion in USD1 memes. > If they’re gonna make a coin in honor of our WLFI Co-Founder… we’re in 🦅☝️ > > — WLFI (@worldlibertyfi) November 24, 2025 World Liberty Financial was founded by Chase Herro and his business partner Zachary Folkman, with the backing of President Donald Trump, Eric Trump and Donald Trump Jr. in 2024. Herro, who often spells his name “Hero” online, is a former weight loss guru and affiliate marketer who spent time in prison for selling marijuana, according to Bloomberg News. But Herro is now at the center of Trump’s crypto empire—an empire that the president himself promoted heavily on social media during the 2024 presidential election. Herro’s rant about selling literal shit and piss recently inspired the creation of a new coin. “You can literally sell shit in a can, wrapped in piss, covered in human skin, for a billion dollars if the story’s right, because people will buy it,” Herro said in a 2018 YouTube video while driving a Rolls Royce. “I’m not going to question the right and wrong of all that. All I’m saying is that as a human being, you have the ability to make a fucking shit-ton of money right now.” The video where Herro originally talked about shit, piss, and human skin has been set to private but it was played on MSNBC back in 2024 and is available to watch at the Independent. Bloomberg reports that Herro was introduced to the Trumps by Steve Witkoff, the president’s current Russia-Ukraine peace negotiator, who was recently revealed to have been coaching Russia on how to sell its version of a peace plan to Trump. Even crypto promoters seemed a bit disturbed by World Liberty Financial’s promotion of a shock token on Tuesday. “WLFI, the Trump crypto project ‘building the future of finance’ just promoted ‘shit piss skin can’ coin,” one crypto influencer wrote. Another X account complained: “Stop this boring insider trading. You’re insulting WLFI holders too much.” Crypto is struggling right now. Bitcoin has plummeted, down 22% on the month, and most other crypto prices have followed that trajectory. Michael Saylor’s company, Strategy, which buys ridiculous amounts of Bitcoin, has seen its shares fall 50% over the past three months. The company is now worth less than the Bitcoin it holds. The stability of the stablecoins that are often used to trade in and out of a given cryptocurrency is also concerning investors. The S&P Global Ratings lowered its assessment of Tether, the world’s most popular stablecoin, to 5 on Wednesday, which is deemed “weak,” according to the Financial Times. That’s the lowest rating on a five-point scale, with 1 rated as “very strong.” The concern is that much of Tether’s reserves are tied up in high-risk investments, including “corporate bonds, crypto, gold and precious metals, secured loans, and who knows what else.” Tether has often been a black box with little in the way of transparency, and yet the entire crypto system depends on it. And it doesn’t help that the company recently relocated to El Salvador, a country run by a far-right president who’s investing his national reserves into Bitcoin. The Trump family’s net worth has also reportedly taken a hit over the past couple of months, falling to about $6.7 billion from $7.7 billion in September, according to Bloomberg. Which may help explain the increasingly odd moves you’re seeing from the X account for World Liberty Financial. Anyone who remembers the crypto crash of 2022 will recall that things became increasingly weird as the liquidity pools of actual cash started to dry up. All of which is to say that there are big flashing warning signs for the crypto industry, which still hasn’t proved to be anything more than a way to gamble. Domino’s Pizza still isn’t taking Bitcoin. And when you see the president’s crypto company start promoting a coin named after literal shit, piss, and human skin, it’s probably an indication that things are about to get really bad.

Deciphering Glyph, the blog of Glyph Lefkowitz.

OMG quote posts https://hachyderm.io/@thomasfuchs/115505209923630809