Trump family earned $500M from crypto venture as company's shares drop 93%
By
Matt Peterson
Summary
The Trump family (Eric Trump and Donald Trump Jr.) partnered 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, the company's share price has plummeted over 90% in less than 10 months, and the company has warned investors it may not be able to stay in business. A rebranding to AI Financial Corp. has failed to revive investor interest.
Source
bskyTrump family earned $500M from crypto venture as company's shares drop 93%cnbc.comKey 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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