President Donald Trump has raised hundreds of millions of dollars using his signature cryptocurrency while his supporters were largely on guard, according to a report.
Of the 1.48 million wallets that have purchased the memecoin $TRUMP since its launch just three days before Trump’s second inauguration last year, about 66%, or 988,905 wallets, had lost money by the end of June. According to blockchain analytics firm Nansen, total losses reached $3.81 billion. reported The New York Times.
The losses are significant considering President Trump made large profits from the token, which features an image of him with a raised fist and the words “Fight, fight, fight,” in reference to the Butler, PA assassination attempt in 2024. According to the president the latest financial disclosuresHe had pocketed $636 million with the memecoin $TRUMP alone.
The Trump Organization’s subsidiaries, CIC Digital and Fight Fight Fight LLC, own about 80% of the token supply, and Trump says it earns transaction fees every time the coin is bought or sold CNNThis means that he profits regardless of whether the price rises or falls.
Trump also used his large social media presence to announce the coin Posts on both X and Truth Social when the coin launched last January.
“My NEW official Trump meme is HERE! It’s time to celebrate everything we stand for: WIN! Join my very special Trump community,” he wrote at the time.
But for his followers who put money into the token, the result brought less profit than expected.
The Trump Coin
The $TRUMP cryptocurrency is a memecoin, meaning its value is not tied to anything substantial. For this reason, the value of the coin can vary greatly. And indeed: the coin on Tuesday was trading at $1.6897% down from its all-time high of $75.35.
While the coin’s own website states that it is not an investment opportunity, it is intended to “act as an expression of support and commitment to the ideals and beliefs embodied by the $TRUMP symbol and associated artwork.” bought the coin with the hope that the value could increase during Trump’s presidency.
While retail investors have suffered big losses, Trump, once a cryptocurrency skeptic, has seen his crypto businesses quickly become a major part of his financial empire. His most recent financial disclosure, which was required to be filed with the US Office of Government Ethics, showed that his crypto revenue reached $1.4 billion last yearwhich accounts for the majority of what Trump has earned since returning to office.
In addition to his earnings from the $TRUMP coin, his companies also received $799 million World Liberty Financialthe crypto company he founded with his sons Donald Trump Jr. and Eric Trump. This sum included approximately $250 million from the sale of its shares in World Liberty Financial, as well as more than $520 million from the sale of another token, World Liberty Financial’s WLFI token, which was also sold dropped by more than 80% from its peak.
According to the Nansen report, only fewer than 500,000 people actually made money using the Trump memecoin, for a total profit of $4 billion. Still, these gains were largely due to early buyers who got in in the first few hours of trading before the token surged and then crashed. The Nansen report said the group that won on Trump’s memecoin “reflects a small number of early buyers who made huge gains while the broad retail majority absorbed the losses.”
This is a common dynamic with meme coins. While early buyers and insiders often benefit when a coin takes off, retail investors who get in later often face the biggest losses.
As for the White House, a spokesman told The Associated Press that Trump is not involved in business decisions and that “neither the President nor his family have ever been or ever will be involved in conflicts of interest.”
The White House did not immediately respond AssetsPlease comment.