An infamous grifter Trump pulled the rug

 Nearly a Million Investors Lost a Total of $3.8 Billion on Trump Crypto Coin

Nearly 1 million people who bought President Trump’s memecoin have lost money through the end of June, according to a report by the cryptocurrency analytics firm Nansen. Their losses total $3.81 billion.

An infamous grifter who has cheated literally everyone he has ever done business with rug-pulled his own meme coin to the detriment of thousands of people who trusted him to not cheat them?

I am shocked. Shocked I tell you. Who could have possibly predicted such a completely predictable turn of events?

And yet these people learn NOTHING:

A 45-year-old machinist named Matt from Indiana lost approximately $32,700 on Trump-backed cryptocurrency and shares. Despite the massive drop, he refuses to blame the Trump family, instead claiming that Democrats and anti-Trump investors deliberately shorted the assets to cause the crash.

The stupid people did.

But the rich who bought in was clearly a bribe for Trump.

Indeed. Majority of these were bribes.

Was it $500 million from UAE, after which the Trump administration gave them access to previously restricted US chipsets?

Yep this is 100% accurate. Plenty of stupid people lost money but for others it was a way to bribe Trump:

 https://www.americanprogress.org/article/how-trumps-500-million-uae-crypto-deal-trades-u-s-national-security-for-family-profit/