PULL THE RUG

What Does PULL THE RUG Mean?

PULL THE RUG means "Withdraw Support or Funding."

The term PULL THE RUG 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?

"Cyber Speak" Test

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Summary of Key Points

"Withdraw Support or Funding" is the most common definition for PULL THE RUG on Snapchat, WhatsApp, Facebook, Twitter, Instagram, and TikTok.
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

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See Also

Currency Symbols ALTCOINS (alternative currencies (cryptocurrency term)) 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)