Lawsuit accuses Trump of 'corruptly profiting' off more than $2B in crypto deals — and even MAGA fans who bought $TRUMP coin aren't happy

Greenberg’s suit, which accuses the president of violating constitutional restrictions on accepting money from foreign entities, reportedly centers around two allegedly “illegal foreign emoluments” that include World Liberty Financial and the United Arab Emirates’ national security advisor, Sheikh Tahnoon bin Zayed Al Nahyan.

Shortly before Trump was inaugurated in January 2025, an entity with ties to Tahnoon reportedly invested $500 million in World Liberty Financial, acquiring a 49% stake in the company. This entity told The Wall Street Journal that Trump was not involved in the deal, but the president’s financial disclosures reveal that he received millions of dollars from this purchase after he was inaugurated for his second term in office.

The suit also shines a spotlight on an alleged scheme by an investment fund based in Abu Dhabi, which is chaired by Tahnoon, that reportedly sought to “inflate the value of President Trump’s crypto holdings” with a $2 billion purchase of USD1, a stablecoin that was launched by World Liberty Financial in 2025.

“This is yet another frivolous lawsuit that echoes the same, tired narrative that Democrats have pushed against President Trump, his family and his administration for a decade,” Anna Kelly, a White House spokesperson, told CNBC. “There are no conflicts of interest.”

But Greenberg isn’t the only one who’s upset with the alleged corruption around Trump’s crypto ventures. In fact, some of Trump’s biggest fans have invested in the president’s $TRUMP meme coin, as well as his other business ventures, and even they believe they were scammed.

Core MAGA to poor MAGA

Trump and his family reportedly generated at least $2.2 billion in income last year, which is nearly four times more than the president reported in 2024. Much of that money came from supporters who invested in his businesses, such as Trump Media and Technology Group [NASDAQ: DJT], or bought his $TRUMP meme coin.

Their fortunes, however, didn’t fare nearly as well. In fact, Trump’s supporters are reportedly down an estimated $7 billion after investing in the president’s business ventures, including his meme coin, Forbes reported.

When Nick Pinto saw Trump had launched a meme coin in January 2025, he quickly invested $7,000. He later upped that investment to $480,000 so that he could gain entry to a dinner at Trump’s Virginia club.

The meme coin, however, is down 72% in the last year. With this in mind, a friend of Pinto’s eventually convinced him to sell most of his position in the Trump coin, but Pinto still suffered losses of $250,000.

“This is something that the Trump family kind of came up with out of the blue,” Pinto told Forbes, referring to the advice that his friend, a fellow Trump investor, shared with him. “And there’s not really a way for us to predict the future of the coin or what their plans for it are.”

Trump Media investors aren’t happy either

Trump’s meme coin isn’t the only one of the president’s business ventures that’s struggled, as Trump Media & Technology Group shares have lost about 61% of their value in the past year.

Many of the retail investors who sunk their savings into those ventures — often as a sign of loyalty to Trump — have seen the money vanish right as economic volatility began to spike. And they’re not happy with the president, or the members of his inner circle.

“We’re just poor cattle to them,” Chad Nedohin, who was once the unofficial captain of Trump Media’s shareholders, told Forbes. “He doesn’t care about anyone.”