Trump-related crypto projects have caused investors losses of at least $4.7 billion, according to Public Citizen
Odaily 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 organization Public Citizen stated that the relevant projects include the World Liberty Financial governance token, NFT trading cards, Official Trump (TRUMP), and the Trump Media digital asset reserve.
Among these, TRUMP investors lost approximately $3.2 billion; USD1 stablecoin investors did not suffer significant losses. Public Citizen stated that the losses caused by TRUMP are mainly reflected as a transfer of wealth to a small number of early buyers, rather than funds disappearing into thin air. Donald Trump also received $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 adding ethics rules to the CLARITY Act, requiring the U.S. President and his family to withdraw from related industry projects. Trump met with cryptocurrency company executives last week and called for 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 support from at least 60 senators. (Cointelegraph)
