In the cryptocurrency model associated with Donald Trump, one thing appears to be true: the Trump family always comes out ahead. According to data from Reuters, the US President and his sons have earned at least $2.3 billion through their cryptocurrency ventures. Meanwhile, investors who trusted them have recorded total losses of $2.3 billion.
Reuters on Trump: Family gets richer while investors lose
More specifically, when 29-year-old software engineer Fatima Elrgndawi learned that Donald Trump was promoting his own cryptocurrency with the message “GET YOUR $TRUMP NOW”, she believed it was an exceptional investment opportunity. The 29-year-old invested $2,000 in the meme coin $TRUMP. “If Trump was putting his name on this, then it would be a legitimate investment,” she thought. However, by late May, her $TRUMP was worth less than $120. Meanwhile, the Trump family had already pocketed hundreds of millions of dollars from these ventures.
$TRUMP is one of the Trump family’s cryptocurrency ventures that, according to Reuters, evolved into a gold mine for them but caused significant problems for thousands of investors.
However, a pattern emerges. The Trump family takes minimal financial risk. Donald Trump Jr. and Eric Trump promote the venture. Investors follow by “putting in” large amounts. The family gets richer and investors lose. According to Reuters, the Trump family has earned at least $2.3 billion in profits from investors. In contrast, more than one million investors had recorded total losses of $2.3 billion.
