Trump Meme Coin: Investors Lost Billions, Partners Made Millions – NYT.

According to research by Chainalysis, over 813,000 crypto investors lost $2 billion after purchasing the president's meme coin $Trump.

Meanwhile, the Trump Organization and its partners made $100 million in commissions.

The value of the $Trump token initially skyrocketed, then fell from $75 to $16.

Within three weeks of its launch, investors lost $20 for every dollar earned by the developers. 813,294 wallets suffered losses.

Trading this token generated $100 million in commissions, but most of these funds have not yet been withdrawn.

The Trump meme coin was created to support Trump, but many traders attempted to profit from it.

Donald Trump has expressed support for cryptocurrencies and stated that all bitcoins should be mined in the U.S.

Financial experts are concerned about Trump's involvement in the speculative asset. Baruch College called $TRUMP a 'bubble'.

Suspicions of conflict of interest led to a complaint being filed with the U.S. Department of Justice and a statement from the former head of the Commodity Futures Trading Commission.

The main holders of the meme coin are CIC Digital and Fight Fight Fight LLC.