Trump Family Profits Millions from Trump Coin as Investors Lose Billions

A cryptocurrency bearing Trump’s name has generated approximately $100 million in trading fees for Trump and his family, while its investors have collectively lost $2 billion, according to new reporting from The New York Times.

The digital token, $TRUMP, initially priced at 18 cents, experienced a dramatic price surge that benefited early traders, particularly some based in China, who sold their holdings for substantial gains. However, retail investors who entered later suffered considerable losses following the token’s price collapse.

Analysis by blockchain research firms Nansen and Chainalysis, along with independent researcher Molly White, revealed questionable trading patterns. Notable cases included an account that invested $1.09 million just hours before the launch, later securing a $50 million profit, and another wallet that gained $2.7 million in just 30 minutes.

While The Times found no direct evidence connecting Trump or his associates to market manipulation or insider trading, regulatory concerns are increasing. New York regulators issued warnings about cryptocurrency “pump-and-dump” schemes in January.

Though Trump initially minimized his connection to the token, company records reveal that Trump-affiliated entities CIC Digital LLC and Fight Fight Fight LLC control 80% of the token supply.

The investment outcomes show a stark contrast: early traders collected $6.6 billion in profits, while later investors faced significant losses. One former promoter of the token, who had previously endorsed it as a profitable investment, later dismissed it as a “joke” after losing money.

Public Citizen has called for investigations by the Department of Justice and Office of Government Ethics into potential violations of anti-bribery laws and the Constitution’s Emoluments Clause. The watchdog group contends that token purchases effectively channel money directly to Trump without providing tangible value.

Critics also warn that the token could serve as a conduit for foreign interests to provide financial support to Trump while circumventing U.S. gift restrictions. Mark Hays of Demand Progress Education Fund told Rolling Stone that foreign leaders could anonymously purchase tokens to benefit Trump financially.

The token’s current trading price of $16.55 represents a significant drop from its highest point, resulting in substantial losses for many investors.