Source: Fortune
Summary
President Donald Trump’s cryptocurrency, $TRUMP, has resulted in significant losses for its investors, with about 66% of wallets that bought the coin losing money, totaling $3.81 billion in losses. Trump, however, has profited from the coin, earning $636 million, according to his financial disclosures. The coin’s value has dropped 97% from its all-time high, and while a small number of early buyers made significant gains, the majority of retail investors have absorbed the losses. Trump’s crypto earnings have become a significant part of his financial empire, with his companies earning $1.4 billion last year.
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The numbers tell one story. Trump’s cryptocurrency venture has been a lucrative one for him, with $636 million in earnings from the $TRUMP coin alone. Meanwhile, his supporters who invested in the coin have largely been left with significant losses. The coin’s value has plummeted, and only a small number of early buyers have made significant gains. Trump’s crypto businesses have become a major part of his financial empire, with $1.4 billion in earnings last year. The Trump Organization’s affiliates own 80% of the token supply, and Trump earns transaction fees each time the coin is bought or sold, ensuring he profits regardless of the coin’s performance.
It’s a familiar tale of insiders profiting while retail investors absorb the losses.
Author: Evan Null
