Trump-related crypto projects have cost investors at least $4.7 billion, says Public Citizen

Odaily Planet Daily News U.S. President Donald Trump and his family have caused investors to lose at least $4.7 billion through digital asset projects since 2022. Consumer advocacy nonprofit Public Citizen stated that the related projects include the World Liberty Financial governance token, NFT trading cards, Official Trump (TRUMP), and Trump Media's digital asset reserve.

Among these, TRUMP investors have lost approximately $3.2 billion, while USD1 stablecoin investors have not suffered major losses. Public Citizen noted that the losses caused by TRUMP mainly reflect a wealth transfer to a small number of early buyers, rather than funds disappearing entirely. Donald Trump also earned $7.2 million from NFT licensing fees and royalties, and more than $600 million from World Liberty token sales and the sale of equity.

Public Citizen also called for the inclusion of ethical standards in the CLARITY Act for digital asset markets, requiring the U.S. president and his family to withdraw from related industry projects. Trump met with crypto company executives last week and called for the passage of a "fair version" of the bill. The Senate is scheduled to vote on a procedural motion on September 15, and advancing the bill will require the support of at least 60 senators. (Cointelegraph)