Donald Trump’s foray into cryptocurrency has drawn criticism as retail investors face significant losses. Trump launched a memecoin, $TRUMP, in January through CIC Digital LLC and Fight Fight Fight LLC. Despite an initial price spike, the coin’s value plummeted, resulting in substantial losses for many investors. The project’s official website warns that $TRUMP is not intended as an investment opportunity. Critics accuse Trump of using his presidency for personal gain through crypto ventures. Top investors were invited to a private dinner with Trump, sparking accusations of monetizing the presidency. \n— new from Gizmodo
