Trump family cryptocurrency coin caused investors to lose 3.8 billion dollars
"Nearly a million investors lost a total of $3.8 billion on the Trump cryptocoin. While Trump made 2.2 billion, the investors lost 3.8 billion. A report from a cryptocurrency analytics firms details those who bought the Trump memecoin have fared. Most of the retail investors have got totally wiped out and lost everything."
About this episode
In this Meidas Touch Network episode, host Ben Meiselas delivers a scathing critique of President Trump's July 4th weekend, arguing it represents widespread corruption and policy failures rather than national unity. The episode opens with Trump's early morning social media posts mocking political opponents on America's 250th Independence Day, setting a divisive tone. Meiselas reports that Iran's Islamic Revolutionary Guard Corps shut down the U.S.-backed Omani shipping corridor in the Strait of Hormuz, forcing vessels into IRGC-controlled lanes after issuing radio threats, a major geopolitical escalation following Trump's statements about resuming pressure on Iran. The host extensively covers what he characterizes as Trump administration corruption, citing Senator Bernie Sanders and Representative Jamie Raskin, highlighting that Trump allegedly made $2.2 billion in his first year back in office while nearly one million investors lost $3.8 billion on the Trump cryptocurrency. Other topics include dangerous heat conditions at Trump's July 4th event in Washington DC with reports of hospitalizations, members of the white nationalist group Patriot Front marching in the capital, power grid failures amid the heat wave after the administration eliminated renewable energy sources, and Pope Leo XIV's contrasting message of unity and freedom. Meiselas argues the Trump administration prioritizes personal enrichment over national interests, pointing to the $400 million Qatari plane, cryptocurrency deals with the UAE, and mining contracts in Kazakhstan that benefit Trump family interests.
Key takeaways
- Iran's IRGC completely shut down the U.S.-backed Omani shipping corridor in the Strait of Hormuz using speedboat patrols after issuing attack threats.
- Nearly one million investors lost $3.8 billion on the Trump cryptocurrency while Trump himself profited $2.2 billion according to analytics firms.
- Senator Bernie Sanders stated Trump made at least $2.2 billion in his first year back in office and received a $400 million plane from Qatar.
- The PJM Interconnection power grid serving 67 million people implemented emergency measures unable to meet energy requirements during extreme heat.
- White nationalist group Patriot Front members marched through Washington DC on July 4th calling for reclaiming the country and removing immigrants.
- Trump's family received $187 million from the UAE for cryptocurrency business four days before his inauguration according to reports.
- Multiple people were hospitalized with serious injuries at Trump's July 4th event in Washington DC amid dangerous 105-110 degree temperatures.