$4.7B Lost: Trump Crypto Schemes Allegedly Devastate Investors

US consumer advocacy group Public Citizen has released a report claiming that investors involved in Donald Trump's digital asset activities since 2022 have collectively lost an estimated $4.7 billion.

The losses are attributed to various products, including the World Liberty Financial token initiatives, Trump's 2022 NFT trading cards, and the Official Trump (TRUMP) memecoin. According to Public Citizen, most of the losses fall on TRUMP memecoin buyers.

Public Citizen's analysis suggests that while some investors have suffered major losses, those who bought World Liberty Financial's USD1 stablecoin have not seen significant declines in value.

The group highlights that despite these losses, Trump has earned an estimated $7.2 million from NFT licensing fees and royalties, as well as over $600 million from World Liberty token sales and the sale of an equity stake.

Public Citizen is calling for ethics provisions to be included in the Digital Asset Market Clarity (CLARITY) Act, arguing that a US president's policy choices and personal portfolio cannot be separated.