Everybody's Business Did the Trump Memecoin Kill the Crypto Boom?
Dec 19, 2025
Amanda Mull, a Businessweek columnist specializing in consumer finance, explains the rising trend of Buy Now, Pay Later (BNPL) options, highlighting its mechanics and risks. Zeke Faux, a reporter and author, delves into the wild world of the Trump meme coin and its launch coinciding with the 2025 inauguration. He reveals the Trump family's estimated $350 million earnings, while discussing the fallout and market implications of this cryptic phenomenon. Together, they navigate the intersection of politics, finance, and consumer behavior.
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Rising Missed Payments, Low Defaults
- Missed BNPL payments rose significantly: 41% reported a missed payment in the past year.
- Yet reported default rates stay low (around 2–3%), lower than typical credit-card defaults.
BNPL Went Mainstream During Holiday Sales
- BNPL use spiked over Thanksgiving/Cyber Monday with over $1 billion in a single day and ~7% of online purchases via BNPL.
- That rapid adoption makes the overall size and placement of BNPL debt opaque to regulators.
Where BNPL Debt Lives
- Much BNPL funding comes from private credit, private equity and securitization rather than transparent bank deposits.
- That complexity hides how much consumer debt exists in these products.