A report from a cryptocurrency analytics firm details how those who bought the Trump memecoin have fared, with most retail investors having lost money while sophisticated traders did better.
Category: Virtual Currency
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Nearly a Million Investors Lost a Total of $3.8 Billion on Trump Crypto Coin
The New York Times – Business: -
Crypto Brought Trump a Huge Windfall, Even as Many Investors Lost Big
The New York Times – Business:President Trump and his family reaped vast financial rewards from a memecoin that generated losses for hundreds of thousands of investors.
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How Polymarket Traders Revolted Over One Silly Syllable
The New York Times – Business:How one silly syllable ignited a bitter dispute over the nature of reality on Polymarket.
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Crypto Firms and Automakers Are Looking to Open Banks, at Trump’s Urging
The New York Times – Business:Urged on by the White House and a reduction in regulatory oversight, crypto companies and automakers are among those that have applied for banking charters.
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The Risks of Iran’s Threat to Control the Strait of Hormuz
The New York Times – Business:Iran is trying to assert its control over the strait by charging for passage. Experts say it is unlikely to happen, but the threat has unsettled the shipping industry.
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Coinbase Lays Off 14% of Employees as A.I. Changes Work
The New York Times – Business:The largest U.S. crypto exchange said it was cutting jobs because of cryptocurrency market volatility and to “optimize” for the artificial intelligence era.
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A Year Later, Trump’s ‘Most Exclusive’ Memecoin Event Is a Lot Less Exclusive
The New York Times – Business:Even a Times reporter qualified for the event, which caused outrage last year for providing access to President Trump in exchange for investment in one of his family’s crypto ventures.
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Coinbase and Gemini Accused of Illegal Gambling in N.Y. Lawsuits
The New York Times – Business:Attorney General Letitia James said the cryptocurrency giants were illegally running gambling platforms in the state after they expanded into prediction markets, which are loosely regulated.
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Crypto Entrepreneur Justin Sun Sues Trump Family’s World Liberty Financial, Accusing It of Fraud
The New York Times – Business:Justin Sun, one of the largest backers of World Liberty Financial, sued the Trump family’s crypto start-up, accusing it of a fraudulent scheme to pressure him into buying digital coins.
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White House and Crypto Industry Fight Bank Lobby Over Stablecoin Income
The New York Times – Business:The Trump administration backed a proposal for stablecoin issuers to offer yield to investors.