Over 800,000 cryptocurrency wallets have lost a combined $2 billion since purchasing President Donald Trump’s memecoin, while the Trump Organization and its partners have accrued approximately $100 million in trading fees. If the Trump Organization sells its stake in the memecoin, it could make billions while simultaneously devaluing the token. Critics warn that the family’s ownership raises concerns about potential market manipulation, conflicts of interest, and diplomatic risks.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02More than 800,000 cryptocurrency wallets have lost a combined $2 billion since purchasing
00:07President Donald Trump's meme coin, while the Trump Organization and its partners have
00:12accrued approximately $100 million in trading fees.
00:15If the Trump Organization sells its stake in the meme coin, it could make billions while
00:19simultaneously devaluing the token.
00:21Critics warn that the family's ownership raises concerns about potential market manipulation,
00:26conflicts of interest, and diplomatic risks.
00:28For all things money, visit Benzinga.com slash GSTV.