Trump Earned $636 Million from $TRUMP Memecoin While Many Investors Lost Money
By
Eric Lipton, Andrea Fuller, David Yaffe-Bellany
Summary
President Trump reaped approximately $636 million from a memecoin called $TRUMP, which was part of a $2 billion windfall he received last year. While Trump and his family benefited enormously, an independent analysis shows that hundreds of thousands of his fans and investors who bought the speculative cryptocurrency suffered losses. The article highlights the disparity between Trump's financial gains and the losses incurred by his supporters who invested in the coin.
Source
bskyTrump Earned $636 Million from $TRUMP Memecoin While Many Investors Lost Moneynytimes.comKey quotes
· 3 pulledA large chunk of the $2 billion haul President Trump took in last year came as hundreds of thousands of his fans and other investors bet on a speculative cryptocurrency called $TRUMP, hoping its value would soar with his return to the White House.
But while Mr. Trump amassed an eye-popping $636 million from the cryptocurrency, known as a memecoin, many of his followers who heeded his call to purchase the coin came out losers.
That outcome, documented by an independent analysis of trades and fees paid out from $TRUMP token sales, is drawing renewed attention this week, as Mr. Trump for the first
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