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Nearly 1 million investors in Trump's memecoin lost a collective $3.8 billion as he cashed in
Fortune • • business
Key Points:
- Approximately 66% of the 1.48 million wallets that purchased the $TRUMP memecoin have lost money, with combined losses totaling $3.81 billion as of the end of June, according to blockchain analytics firm Nansen.
- Despite significant losses for most investors, President Trump reportedly earned $636 million from the $TRUMP token, with his affiliates owning about 80% of the token supply and profiting from transaction fees regardless of price fluctuations.
- The $TRUMP memecoin, launched shortly before Trump’s second inauguration, has seen its value plummet 97% from its all-time high of $75.35 to $1.68, reflecting the volatile nature of memecoins which lack intrinsic value.
- Trump’s cryptocurrency ventures, including the $TRUMP coin and the World Liberty Financial tokens co-founded with his sons, generated $1.4 billion in earnings last year, comprising the majority of his reported income since returning to office.
- While a small group of early buyers made substantial gains from the $TRUMP coin, the majority of retail investors faced significant losses, a common pattern in memecoin markets; the White House has denied any conflicts of interest involving Trump’s business activities.
