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Trump and His Family Earned Millions from Trump Coin While 810,000 Others Lost Money: Report

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
"That coin is a joke," one Trump supporter who said he lost money on the president's memecoin wrote on social media
The article from MSN discusses a report by The Washington Post detailing how former President Donald Trump and his family earned millions from a cryptocurrency called TrumpCoin (TRUMP) while approximately 810,000 investors lost money. Launched in 2016, TrumpCoin was promoted as a way for supporters to invest in Trump's brand, but it was not officially endorsed by Trump or his campaign. Despite this, the Trump family benefited from the coin's promotion through various means, including licensing deals and promotional activities. The report highlights the lack of regulation in the cryptocurrency market, which allowed for such schemes to proliferate, leaving many investors at a financial loss while the Trump family profited. The article also touches on the broader implications of celebrities and public figures promoting cryptocurrencies without disclosing their financial interests or the risks involved.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/news/politics/trump-and-his-family-earned-millions-from-trump-coin-while-810-000-others-lost-money-report/ar-AA1yHw4I ]