Trump family earned $500M from crypto venture as company's shares plummet 93%
By
Matt Peterson
An everything bagel for the brain. Substantive, layered, well-seasoned.
Summary
The Trump family (Eric Trump and Donald Trump Jr.) entered a business partnership with a little-known company called Alt5 Sigma (now AI Financial Corp.) to provide easier access to a Trump-backed cryptocurrency. The deal generated approximately $500 million for the Trump family. However, less than 10 months later, the company's share price has fallen more than 90%, and it has warned investors it may not be able to stay in business much longer. A rebranding effort has failed to revive investor interest.
Key quotes
· 3 pulledEric Trump and Donald Trump Jr. were all smiles at the Nasdaq stock exchange.
The company has warned investors it may not be able to stay in business much longer.
Its share price has fallen more than 90%, and a rebranding hasn't revived investor interest.
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