New analysis traces complex token sales and deals that enriched the Trump family, raising questions about who profited and who absorbed the losses.

Over the years, Donald J. Trump followed a simple plan for wealth: he gives his name to a product, company, or project, often does not put up his own money, actively promotes it, and waits for profits to flow. Since mid-2024, when he ran for a second term as president, Trump and his family applied the same approach to the dynamic world of cryptocurrency – with striking results.

It is generally known that the study’s aim was to determine how much money the Trump family earned from four major crypto projects, how much of their own funds they invested in these projects, and how the…