Trump Has Made at Least $2.3 Billion From Crypto Ventures Since Re-Election, Reuters Reports
Summary
- Reuters reported that US President Donald Trump is estimated to have earned at least $2.3 billion from cryptocurrency-related businesses launched after his re-election.
- More than 1 million retail investors had posted a combined net loss of $2.3 billion by late April after investing in Trump-linked cryptocurrencies and related stocks as well as exchange-traded funds (ETFs), according to the report.
- In US politics, debate is likely to continue over conflicts of interest tied to Trump family-linked crypto businesses and future regulation.
Forecast Trend Report by Period
US President Donald Trump has generated at least $2.3 billion from cryptocurrency-related businesses since winning re-election, Reuters reported. Individual investors who bought into those assets, by contrast, have suffered steep losses.
Reuters reported on June 9 that Trump is estimated to have made at least $2.3 billion from crypto projects launched after his re-election.
As of late April, more than 1 million investors had posted a combined net loss of $2.3 billion, according to the report.
The figure includes not only retail investors who directly bought Trump-linked cryptocurrencies and related stocks, but also those with indirect exposure through exchange-traded funds, or ETFs.
In Washington, debate has recently intensified over potential conflicts of interest surrounding crypto businesses tied to the Trump family.
Democratic lawmakers argue those ventures could conflict with the presidency. Trump and his side maintain that all business activities comply with relevant laws and regulations.
The debate over regulation and conflicts of interest is likely to continue as US political involvement in the crypto industry expands.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
