Entities behind President Donald Trump’s crypto coin have accumulated close to $100 million in trading fees in less than two weeks, according to estimates from three blockchain analysis firms, a large windfall from a venture that has seen tens of thousands of small traders lose money.

Days before his inauguration, President Donald Trump unveiled his own cryptocurrency called $TRUMP. The move raised eyebrows among experts in the field as it may entail a conflict of interest or undermine the adoption of the emerging technology.

Donald Trump’s meme coin, TRUMP, has lost 75% of its value despite the former president’s enthusiastic promotion. According to CoinDesk,

The launch of the Trump token, which hit a $15 billion valuation, rides the trend and raises questions. Axios reporter Brady Dale explains what a meme coin is and what owners can actually do with them.

President Trump is facing backlash after he and first lady Melania Trump launched two cryptocurrency tokens just days before his inauguration. While the move sparked predictable criticism

Crypto analysts report 6,800 fraudulent tokens and 91 fake dApps since $TRUMP made its $72 billion debut, as reported by Crypto News. The coin, which President Trump admitted himself that he “didn’t know much about,” was launched to great success, achieving a market cap of $72 billion 48 hours before its launch.

The $Trump memecoin, launched by Donald Trump just a few days before stepping into the White House, raked in nearly $100 million in trading fees in under two weeks. Since then, tens of thousands of small traders have suffered losses.