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Trump family got about $500M from crypto venture — but investors saw steep losses
Back in August, Eric Trump and Donald Trump Jr. were all smiles. They showed up at the Nasdaq stock exchange in New York to celebrate a new business partnership with a little-known publicly traded company, then called Alt5 Sigma, to give investors easier access to a cryptocurrency backed by the Trump family. Less than 10 months later, the company has warned investors it may not be able to stay in business much longer.
Company that bet big on Trump-backed crypto says its fortunes have improved
AI Financial Corp., a publicly traded company that took heavy losses after making a billion-dollar bet on a cryptocurrency backed by the Trump family, said Wednesday that its outlook had improved. Its shares are down 92% since making that bet to 65 cents a share as of Wednesday's market open. The Trump family earned about $500 million in that transaction, CNBC reported.
Trump family ‘made $500 million from crypto coin deal’ — before the bottom fell out on individual investors
Trump family ‘made $500 million from crypto coin deal’ — before the bottom fell out on individual investors AI Financial Corp. , formerly Alt5 Sigma, says it may go under following transactions with Trump-tied World Liberty Financial - Bookmark - CommentsGo to comments President Donald Trump and members of his family reaped about $500 million from the sale of $1.5 billion in cryptocurrency to a company that's since seen its stock price plummet — and left investors holding the bag, according...