(Sipa via AP Images)
Nearly one million people who bought the $TRUMP memecoin lost $3.81 billion, while President Donald Trump personally made more than $600 million, according to a new New York Times report.
Cryptocurrency analytics firm Nansen calculated the losses this week after Trump’s annual financial disclosure showed him raking in $636 million on the memecoins as part of his total $2.2 billion haul in 2025.
“Nansen’s data shows that, as of the end of June, 988,905 buyers of the $TRUMP memecoin have lost money, representing roughly two out of every three buyers,” the Times reported. “Cumulatively, these 988,905 wallets have lost a total of $3.81 billion, including buyers who have held on to their stash and recorded paper losses, according to Nansen. The coin was trading at $1.76 as of Friday, down 97 percent from its peak price of $75.35.”
The report noted that “sophisticated crypto traders” were able to pump up the memecoins’ value after launch by “often using automated programs to purchase digital currencies.”
These traders “know that memecoins often skyrocket quickly in value and then crash, as the early buyers sell their holdings to less sophisticated, slower-moving investors hoping to get in on the action,” the report said.
Trump aggressively promoted his memecoin on social media, with posts like, “It’s time to celebrate everything we stand for: WINNING! Join my very special Trump community. GET YOUR $TRUMP NOW!”
“One crypto investor, Nicholas Pinto, who said he voted for Trump in 2024, put roughly $500,000 in the $TRUMP coin, and has now lost about half his investment,” the report said.
“He is leveraging the power of being president to launch currencies, when he seems trustworthy in the public’s eye,” Pinto told the Times. “It is kind of incredible. It is almost a legal scam.”
The Times report noted that since Trump began promoting cryptocurrency in 2024, however, he “and appointees have curtailed regulatory oversight of the industry, including policies related to memecoins.”
The White House continues to deny that Trump is cashing in on his devotees.
In a statement, White House spokeswoman Anna Kelly said, “President Trump proudly made the United States the crypto capital of the world. All actions by President Trump and his administration are taken in the best interest of the American people.”
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