An investigation found repeated crypto launches tied to the Trump family that enriched insiders while many retail investors lost money. The pattern raises ethical concerns.

January 2025 brought real cryptocurrency excitement: Donald J. Trump was preparing to return to the White House. And when Fatime Elrgdawy, a friend, learned of an online message from the future president-elect promoting the launch of his own cryptocurrency – “GET YOUR $TRUMP NOW” – she thought, “Oh my God, this is brilliant.”

If Trump was involved in this project, she believed it must be a legitimate investment.

A 29-year-old software project engineer from Santa Barbara, California, invested savings of $2000 in the meme coin $TRUMP – purely…