Trump Memecoin Crash Wipes Out $2 Billion, Raises Ethical Concerns

Over 810,000 investors faced steep losses while the Trump family and partners earned $100 million in trading fees from the volatile cryptocurrency.

The Trump Organization launched the $TRUMP memecoin on January 17, which initially surged to $75 per token before plummeting to $16, erasing $2 billion in investor value.
Over 813,000 crypto wallets suffered losses, while fast-moving professional traders, some linked to China, reportedly made millions by selling early.
The Trump family and affiliated entities, including CIC Digital LLC, collected $100 million in trading fees, though most of it remains uncashed.
Ethical concerns have been raised about conflicts of interest and potential exploitation of retail investors, with watchdog groups calling for investigations into possible violations of federal regulations.
The memecoin's launch has also triggered the creation of hundreds of copycat tokens, some of which have been linked to fraudulent activity and insider trading suspicions.