Trump family stiffed investors to make $500 million in crypto deal

Trump family stiffed investors to make $500 million in crypto deal The Trump family made about $500 million from the sale of $1.5 billion in cryptocurrency - but investors saw steep losses, a report has claimed President Donald Trump and members of his family made about $500 million from the sale of $1.5 billion in cryptocurrency - but investors saw steep losses, according to a report. Eric Trump and Donald Trump Jr reportedly attended the Nasdaq stock exchange in New York in August last year to celebrate a new business partnership with a company then called Alt5 Sigma, which would give investors easier access to a cryptocurrency backed by the Trump family. However, the share price of the company - now called AI Financial Corp - has since fallen more than 90 per cent and it has warned investors it may not be able to stay in business much longer. AI Financial Corp is at risk of being delisted by the Nasdaq if it is unable to raise its share price out of penny-stock levels in the next 15 trading days, CNBC reports. As part of the deal in August, Alt5 acquired $1.5 billion worth of crypto tokens from World Liberty Financial, the crypto company co-founded by Eric Trump and Donald Trump Jr in 2024. The president and undisclosed members of his family were entitled to roughly $500 million in proceeds from the crypto sale, according to disclosures by World Liberty Financial. Alt5 closed at $8.97 on August 8, the last trading day before the World Liberty deal was announced. Since then, AI Financial ’s stock - originally trading under the ticker ALTS, now AIFC - fell to 66 cents a share at the June 8 close, a 93 per cent loss, according to FactSet data. The White House dismissed questions about the family’s involvement in AI Financial and the prospect of it going bankrupt. "President Trump’s assets are in a trust managed by his children. There are no conflicts of interest," White House spokeswoman Anna Kelly told CNBC.