Peter Schiff says Trump made $1.4B from memecoin sales, shifting losses to investors

Peter Schiff, chairman of Euro Pacific Capital and a prominent gold bull as well as a cryptocurrency skeptic, criticized U.S. President Donald Trump’s profits from memecoin trading. In a social media post, Schiff claimed Trump realized about $1.4 billion in gains by selling memecoins. Schiff added the profits came at the expense of retail investors who entered the market and collectively suffered principal losses of a similar scale.