Crypto
Politicians Cash In on Meme Coin Schemes as Investors Lose Billions
US politicians have been exploiting their supporters by launching meme coin scams that promise unrealistic returns.
The Trump family has made $2.3 billion from crypto ventures between November 2024 and April 2026, while investors lost $2.25 billion.
Hunter Biden launched his own meme coin called Laptop token in September, which immediately shot up to over $222 per token but then crashed to around $2 within an hour, losing nearly all of its value.
Both the Trump and Biden families have been accused of running rug pull schemes, where they sell their tokens at a high price before crashing them and leaving investors with losses.