Shenchao TechFlow message: On July 07, Peter Schiff posted that the Trump family has profited by billions of dollars from selling cryptocurrencies to the public and from selling stocks in companies related to Trump. However, he said their gains do not come from actual value creation, but from investors’ losses. He noted that most victims are inexperienced Trump loyalists who mistakenly treat the related products as legitimate investments. Schiff predicted that the Trump Organization will face a large number of lawsuits as victims seek to recover losses, and that the Democratic Party may use this to create political ads and exert public pressure on the Republican Party. In addition, Schiff also hinted that Trump’s recent claim that he has “become a big supporter of cryptocurrency” may be related to pressure from his crypto donors.

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