Crypto mania Trump: his empire is worth billions, but investors remain broke

The tycoon’s political supporters, together with staunch supporters of cryptocurrencies, invested thousands of dollars, but some even millions, thus making Trump a fortune with the issuance of the new cryptocurrencies. But those who purchased World Liberty tokens and memecopins at high prices then suffered the consequences of their value collapsing, as part of a broader crisis in the cryptocurrency market.

Nansen’s analysis of over 26,000 wallets shows that 85% of buyers of World Liberty’s $Wlfi token in the secondary market are at a loss. In short, a different scenario from the one outlined yesterday by the president who, answering journalists’ questions on the enormous profits obtained with cryptocurrencies, said that “everyone is making profits, because the market is going up, I am making profits because I have a lot of money and a lot of cash”.

A few days before his second inauguration, Trump launched his memecoin $Trump which reached a maximum market capitalization of almost $15 billion before plummeting by 97%, to the current $400 million today, WSJ recalls.

Trump, who in 2021 described bitcoin as “a scam” that threatened the solidity of the American dollar, has now adopted policies aimed at making America “the crypto capital of the world”, launching measures to ease rules and controls on the currency. All this while the Trump family has launched itself into every sector of the crypto world, provoking, even before the announcement of the stellar earnings, criticism and concerns about possible conflicts of interest.