'They are going to suffer': Ex-Trump hotel exec warns new venture will hurt MAGA fans most

Former casino executive Jack O’Donnell on Thursday sounded the alarm on President Donald Trump’s latest money-making scheme – and warned that MAGA supporters could be the ones setting themselves up for financial risk.

“He's going to leverage this presidency as much as he can. I think that's his top priority to be honest,” said O’Donnell, Trump's onetime president and chief operating officer of the Trump Plaza Hotel & Casino.

O’Donnell made the comments in a Thursday interview with CNN host Erin Burnett, where he explained that Trump’s cryptocurrency, launched just days before he swept back into office, “is particularly scary on two fronts.”

“It's very reminiscent of the junk bonds that he sold in the '90s where small-time investors could get in,” O’Donnell said.

He added: “The crypto meme coins are incredibly volatile. So, he's going to actually wind up hurting many of the MAGA people because they're going to do like they did in the '90s – they’re gonna want to buy his product, okay and they are going to suffer the consequence of the volatility.”

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O’Donnell said that crypto coins are “probably the most volatile commodity in the market today.” He then told the CNN host what was most concerning to him.

“The bigger concern Erin is that the way the cash moves here, it moves almost directly to Trump,” he said. “And so, it can be used just like his hotels were used in the first administration – where the foreign countries and wealthy people used his hotels to gain favor – well, this is a perfect vehicle.”

He added that “a country could go in and buy $10 million worth of crypto coin – Trump's crypto coin – and he's the beneficiary of this.”

“I think it's just flat-out dangerous for national security that, you know, that he could be influenced like this,” O’Donnell added.

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