What Does PULL THE RUG Mean?
The Quick Answer
PULL THE RUG means "Withdraw Support or Funding."More Detail...
It comes from the English saying "to pull the rug out from under someone's feet." It is used to describe a situation in which someone suddenly withdraws their support from someone else, typically leaving them in a difficult position. In the lexicon of cryptocurrency a "RUG PULL" is a when a developer abandons a project and runs away with investors' funds.- Toni: Are you going to the game on Saturday?
- Jo: I was all set to go with Lee, but she has just PULLED THE RUG.
- Sam: I'm going to buy into this great crypto project.
- Ali: How do you know the developers won't PULL THE RUG?
Image for PULL THE RUG
When I write PULL THE RUG, I mean this:
"Withdraw Support or Funding"
Summary of Key Points
"Withdraw Support or Funding" is, by far, the most common meaning for PULL THE RUG when it is used in a text. (Bear in mind that it could have another meaning if used in a different context.)| PULL THE RUG | |
|---|---|
| Definition: | Withdraw Support or Funding |
| Type: | Word |
| Guessability: |  3: Guessable |
| Typical Users: |  Adults and Teenagers |
Example of PULL THE RUG Used in a Text
PULL THE RUG
This page is maintained by the Cyber Definitions Editorial Team.
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BITCOIN (a type of cryptocurrency)
BLOCKCHAIN (public online ledger (cryptocurrency term))
BTFD (buy the f*cking dip (cryptocurrency term))
HODL (hold on for dear life (cryptocurrency term))
ICO (initial coin offering (cryptocurrency term))
REKT (financially ruined (cryptocurrency term))
SATOSHI (smallest unit of bitcoin (cryptocurrency term))
SHRINKFLATION (reducing product quantity or quality, while maintaining price)
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