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Trump’s Crypto Fans Rocked by Jaw-Dropping Losses
The Daily Beast • • nation
Key Points:
- Nearly 1 million investors in President Donald Trump’s memecoin have collectively lost $3.8 billion, while Trump personally profited $636 million from the currency, according to cryptocurrency analytics firm Nansen.
- Trump and his sons launched a crypto startup, World Liberty Financial, selling a currency called $WLFI, which has also significantly declined in value since its peak.
- Despite previously criticizing cryptocurrencies in 2019, Trump embraced crypto by launching the $TRUMP memecoin in January 2025, which soared initially but has since lost 97% of its value.
- Critics, including investors and members of Congress, have accused Trump of leveraging his presidential influence to promote what some describe as a “legal scam” or a memecoin Ponzi scheme.
- Trump’s push to reduce federal oversight and regulation of the crypto market has drawn scrutiny, with Democratic Representative Al Green publicly condemning the president’s involvement in the memecoin during a congressional hearing.
