More Than 800K Have Lost $2B on Trump’s Meme Coin
www.thedailybeast.com
The token’s price has crashed from $75 to $17.

Summary

Donald Trump’s cryptocurrency, $Trump, has led to $2 billion in investor losses.

Launched three days before his inauguration, the meme coin initially surged from $0.18 to $75, allowing early traders to profit massively.

However, its value has since plummeted to $17, leaving over 810,000 crypto wallets at a loss.

Meanwhile, Trump and his family have earned over $100 million in trading fees.

    • jacksilver@lemmy.world
      17·
      2 days ago

      A lot of concern I’ve heard is that it’s possible he’s using it as a payment method for bribes/influence. Since they make money on fees, you could literally just trade the coins back and forth to yourself and “give” trump money.

      • ddh@lemmy.sdf.orgEnglish
        5·
        2 days ago

        You can also just rent his hotel rooms and leave them empty, like the Saudis. He’s opened so many channels to funnel money to him for favour.