Crypto Scandal!
Family #TRUMP earns $320M with the memecoin TRUMP, while retail investors lose millions and unleash a political storm
The Trump family has generated a profit of $320 million in commissions from the memecoin TRUMP, according to Chainalysis, despite the token plummeting by -86% from its peak of $77.26 to $10.80.
The memecoin #Melania , launched by #MelaniaTrump , fell even further, losing -97% of its value and trading at $0.33.
A report from the State Democracy Defenders Fund reveals that cryptocurrencies now represent 40% of the Trump family's net worth, increased by $2.9 billion thanks to their crypto projects, including TRUMP, MELANIA, and World Liberty Financial.
However, 760,000 wallets, mainly from retail investors, have lost money with $TRUMP, while 58 privileged wallets gained over $10 million each.
Additionally, a group of insiders made $100 million with $MELANIA through "sniping" before its announcement, according to the Financial Times.
These links to the crypto industry have generated political controversy, contributing to the failure of a bipartisan bill on stablecoins due to Democratic concerns over Trump's profits.
The combination of massive gains for creators, losses for retail investors, and ethical conflicts has ignited a debate about Trump's influence in the crypto market.
