Trump's Cryptocurrency Scam: $1 Billion in Losses for Supporters
President Donald Trump has made at least $1 billion promoting his cryptocurrency, a coin sold primarily to his own supporters. However, those same supporters have largely lost their investments in the venture, with critics labeling it a scam. Right-wing podcaster Joe Rogan, a Trump backer, has started to turn on the president as he continues to deregulate the crypto industry and personally profit.
Nicolle Wallace, host of MSNBC's 'MS NOW', pointed to these developments as evidence that Trump 'hates' his own voters. Speaking to former President Barack Obama's deputy national security adviser, Ben Rhodes, Wallace said, 'He knows that they're the ones who will be the suckers, right?'
Wallace also noted that Trump's actions demonstrate a lack of respect for his voters. 'There's no one around Trump that can protect his voters from knowing that he hates them so much that he didn't just fail on the economy after he promised to fix it, he is stealing from them,' she said.
Congressional Democrats have promised to investigate Trump's business ventures, including his cryptocurrency business, if they retake power in the 2026 midterm elections.