Public Citizen: Trump-related encryption projects cost investors at least $4.7 billion

On 28 August, the President of the United States, Donald Trump, and his family have lost at least $4.7 billion to investors since 2022 through the Digital Assets Project. The consumer rights advocacy non-profit organization Public Citizen states that the projects include the World Liberty Financial Governance Depot, the NFT Trade Card, the Official Trump (TRUMP) and the Trump Media Digital Asset Reserve. Of these, TRUMP investors lost approximately $3.2 billion; USD 1 stabilizers did not suffer significant losses. According to Public Citizen, the losses caused by TRUMP are mainly reflected in the transfer of wealth to at least a few early buyers, rather than in the disappearance of funds. Donald Trump also received $7.2 million from NFT authorized fees and royalties and over $600 million from World Liberty token sales and sales. Public Citizen also called for the inclusion of ethics in the Digital Asset Market Clarification Act, requiring the President of the United States and his family to withdraw from the relevant industry projects. Trump met with the head of the encryption company last week and called for the adoption of the “fair version” bill, which the Senate is scheduled to vote on a procedural motion on 15 September, and which requires at least 60 senators to move forward。