Trump memecoin wallets lost $3.81 billion as president reported $636 million
Nansen data reported by the New York Times found 988,905 $TRUMP wallets were in the red by the end of June.
By Sofia Marchetti · World Affairs Correspondent
3 min read
Nearly two-thirds of wallets that bought President Donald Trump’s memecoin had lost money by the end of June, according to Nansen data reported by the New York Times. The losses put the token’s retail fallout beside Trump’s own disclosed crypto income, including hundreds of millions tied to $TRUMP.
Nansen found that 1.48 million wallets bought the $TRUMP coin after it launched three days before Trump’s second inauguration last year, the New York Times reported. By the end of June, 988,905 of those wallets, or about 66%, were down by a combined $3.81 billion, according to the blockchain analytics firm.
Trump’s most recent financial disclosure listed $636 million in earnings from the $TRUMP memecoin, according to Fortune’s account of the filing. The token features an image of Trump raising his fist with the words “Fight, Fight, Fight,” a reference to the 2024 attempted assassination in Butler, Pennsylvania.
How the token worked
CNN reported that Trump Organization affiliates CIC Digital and Fight Fight Fight LLC control roughly 80% of the token supply. CNN also reported that Trump earns transaction fees when the coin changes hands, giving him revenue from trading activity whether the market price rises or falls.
Trump announced the coin on X and Truth Social when it debuted in January, according to the New York Times. The token’s own website says $TRUMP is meant as an expression of support for the ideals and imagery associated with the coin and says it is not an investment opportunity.
CoinMarketCap data cited by Fortune showed the token trading at $1.68 on Tuesday. That price was 97% below its all-time high of $75.35, according to the same market data.
Nansen’s figures showed fewer than 500,000 wallets made money on the token, with gains totaling about $4 billion, according to the New York Times report. Nansen said the profitable group was concentrated among early buyers who purchased during the first hours of trading, before the token climbed and then fell.
Crypto earnings drew scrutiny
Reuters reported that Trump’s latest disclosure, filed with the U.S. Office of Government Ethics, showed more than $1.4 billion in income from crypto ventures last year. Fortune reported that those crypto earnings made up most of what Trump has earned since returning to office.
Trump’s companies also received $799 million from World Liberty Financial, the crypto business he co-founded with Donald Trump Jr. and Eric Trump, according to Fortune. That total included about $250 million from selling interests in World Liberty Financial and more than $520 million from sales of its WLFI token, Fortune reported.
CoinMarketCap data cited by Fortune showed WLFI had fallen more than 80% from its peak. The drop underscored how Trump-linked crypto ventures have generated large sums for his businesses while some token buyers have taken steep losses.
A White House spokesperson told the Associated Press that Trump does not take part in business decisions and said neither the president nor his family has engaged, or will engage, in conflicts of interest. Fortune reported that the White House did not immediately respond to its request for comment.
This story draws on original reporting from Fortune.