Trump Crypto Projects Cost Investors $4.7B: Report
According to a recent report by consumer advocacy organization Public Citizen and cited by Cointelegraph, investors have lost an estimated $4.7 billion through digital asset ventures associated with Donald Trump and his family since 2022. The reported losses span several projects, including nonfungible token trading cards, the World Liberty Financial governance token, and the official TRUMP memecoin.
Public Citizen stated that the majority of the losses, approximately $3.2 billion, stemmed from the TRUMP memecoin. The organization noted that these figures represent wealth transferred to early buyers rather than capital that simply vanished. Meanwhile, buyers of the USD1 stablecoin issued by World Liberty Financial have avoided major losses.
While investors faced steep declines, the report outlines substantial revenue for Trump from these initiatives. Figures from financial disclosures indicate millions generated through NFT licensing fees, token sales, and capital contributions, alongside additional holdings in related companies. The White House did not immediately respond to requests for comment, though a spokesperson has previously maintained that no conflicts of interest exist regarding the investments.
In light of these findings, Public Citizen renewed its calls for ethics provisions to be included in the pending Digital Asset Market Clarity Act. The advocacy group argues that legislation should mandate that a sitting United States president and their family divest from digital asset projects to prevent potential conflicts between policy decisions and personal financial portfolios. The Senate is scheduled to hold a cloture vote on the market structure bill next month.
Based on reporting by cointelegraph.com.
