The chief crook has swindled millions out of hundreds of millions, yet again. Incredible how he is rarely held accountable for his many scams. Hopefully someday it will catch up to him. Amusing how his supporters invested in his crypto, assuming he really was some sort of financial genius, when 90% of his fortune was stolen, or amassed through fraud and scams. Nearly 1 million people who bought President Trump’s memecoin have lost money through the end of June, according to a report by the cryptocurrency analytics firm Nansen. Their losses total $3.81 billion. The analytics firm’s assessment was calculated this week after Mr. Trump signed an annual financial disclosure showing that he walked away with a $636 million payout on the same crypto bet, part of a haul of at least $2.2 billion from all of his business ventures in 2025. The odds were always in his favor. Mr. Trump profited whether the price of his memecoin went up or down. He collected returns whenever anyone traded the tokens, as he repeatedly pushed his followers to do, using his Truth Social account to promote the coin. Once a crypto skeptic, Mr. Trump embraced the profit-making opportunity of digital currencies in 2024, while he was running for president. He and his sons founded a crypto start-up called World Liberty Financial, which soon began selling a coin called $WLFI that has also declined sharply. Three days before his inauguration, Mr. Trump unveiled a second Trump-branded investment — the $TRUMP memecoin, a type of novelty currency with little practical value. Cumulatively, these 988,905 wallets have lost a total of $3.81 billion, including buyers who have held on to their stash and recorded paper losses, according to Nansen. The coin was trading at $1.76 as of Friday, down 97 percent from its peak price of $75.35. Stephen Gillers, a New York University law and legal ethics professor, said he would not be surprised if Mr. Trump and his partners eventually face a class-action lawsuit from followers who lost money — even though the Securities and Exchange Commission announced in February 2025 that it will no longer scrutinize memecoin deals. https://www.nytimes.com/2026/07/04/us/politics/trump-coin-crypto-investors-loss.html?smid=nytcore-android-share
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