Trump's Crypto Empire Built on Investor Losses

Donald Trump's foray into cryptocurrencies has been met with controversy and financial losses for thousands of investors, while his own family has profited handsomely. When he returned to the White House in 2024, Trump vowed to usher in a new era for crypto and legitimize the sector, despite previously calling them a 'scam.'

The president's children founded World Liberty Financial (WLF), a company dedicated to trading digital assets, which became one of The Trump Organization's most valuable assets. WLF signed dozens of deals with various firms in the sector, accumulating partners' tokens in a strategic reserve. These tokens typically appreciated between 10% and 26% in the 24 hours after WLF purchases.

The most notable example is the memecoin $TRUMP, launched by Trump himself. It reached a market value of over $10 billion but collapsed within hours, leaving most investors empty-handed. A report by crypto analytics firm Nansen estimates that nearly one million investors who bought $TRUMP lost at least $3.81 billion.