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Crypto Brought Trump a Huge Windfall, Even as Many Investors Lost Big
The New York Times • • general
Key Points:
- President Trump earned $636 million from a speculative cryptocurrency called $TRUMP, which attracted hundreds of thousands of his supporters and investors betting on his political comeback.
- The $TRUMP token, a memecoin, generated significant revenue for Trump but resulted in losses for many followers who purchased the coin.
- An independent analysis of trades and fees from $TRUMP sales highlights the disparity between Trump's earnings and the financial outcomes for his supporters.
- Trump has publicly disclosed that he secured $1.4 billion in revenue from the cryptocurrency industry since returning to the White House.
