Trump Crypto Fallout
Trump-linked memecoin investors lost billions as his crypto earnings drew scrutiny.
Summary
Blockchain analytics firm Nansen found that 988,905 accounts had lost a combined $3.81 billion on President Donald Trump’s $TRUMP memecoin as of the end of June. The analysis found Trump made $636 million from the token through fees collected when it was bought or sold. The figures followed Trump’s annual financial disclosure, which showed more than $1.4 billion in crypto-related earnings since he returned to the White House. In a CNBC interview aired July 2, Trump addressed questions about his family’s crypto ventures and potential conflicts of interest.
The Coverage
Trump crypto grift
Trump profited from his crypto ventures while ordinary buyers or Americans were left worse off or disgusted. His memecoin and broader presidential crypto earnings amounted to a conflict-ridden grift that enriched him personally.
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