Trump Family Crypto Project Quietly Sold as Holders Got Stuck
cross-posted from: https://reddthat.com/post/64846557
> (Bloomberg) -- The pitch was straightforward: Invest in the cryptocurrency venture of Donald Trump and his family, back the industry’s most powerful ally at the peak of their influence, and share the spoils.
>
> What is unfolding has no precedent in American financial life. A sitting president’s family holds financial stakes in a live token project — one setting governance rules, directing treasury sales, collecting proceeds — while the people who signed up find themselves with limited options to exit.
> (Bloomberg) -- The pitch was straightforward: Invest in the cryptocurrency venture of Donald Trump and his family, back the industry’s most powerful ally at the peak of their influence, and share the spoils.
>
> What is unfolding has no precedent in American financial life. A sitting president’s family holds financial stakes in a live token project — one setting governance rules, directing treasury sales, collecting proceeds — while the people who signed up find themselves with limited options to exit.