Trump Memecoin Investors Lost $3.8 Billion
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- Trump memecoin investors lost a combined $3.8 billion, with nearly a million individuals affected, according to analyses cited by TechCrunch and The New York Times.
- Bessent addressed Trump's crypto earnings, telling CBS News "I don't think there's an appearance problem," even as reporting described the situation as "unprecedented profiteering."
Why it matters: The $3.8 billion loss across nearly a million investors on a politically-branded token puts a concrete dollar figure on the financial damage, and the official response of "no appearance problem" highlights the tension between the scale of losses and the administration's willingness to acknowledge conflict-of-interest concerns.
