Trump cost investors $4.7B through crypto ‘schemes’: Public Citizen

The nonprofit consumer advocacy organization Public Citizen reported that US President Donald Trump “left investors at least an estimated $4.7 billion underwater” since 2022 through his and his family’s digital asset ventures.According to Public Citizen, investors lost billions of dollars through the Trump family World Liberty Financial governance token, the president’s nonfungible token (NFT) trading cards launched in 2022, his memecoin Official Trump (TRUMP) and Trump Media’s digital asset treasury. The bulk of the estimated losses, according to the organization, came from investors in the TRUMP memecoin, with $3.2 billion lost, while buyers of World Liberty Financial‘s USD1 stablecoin “haven’t suffered major losses.” Public Citizen said that in the case of the memecoin, the losses represented “wealth transferred to a small group of early buyers rather than money that simply vanished.” Estimated losses for investors in Donald Trump’s crypto ventures. Source: Public CitizenAccording to Public Citizen, amid the $4.7 billion in investor losses, Trump earned $7.2 million from the NFT licensing fees and royalties, more than $600 million from World Liberty token sales and selling an eq...