Nearly 1M Trump memecoin buyers lost $3.81B

Nearly 1 million investors in President Donald Trump’s TRUMP memecoin were underwater at the end of June, with aggregate losses of $3.81 billion, according to blockchain analytics firm Nansen. The token traded at $1.76 on July 3 after peaking at $75.35, a drop of about 97 percent.

Nansen’s data show 988,905 holders are currently holding positions below their purchase price. The analytics firm identified roughly 500,000 earlier and more sophisticated buyers who sold before the price collapse and realized about $4 billion in combined profits.

Trump’s 2025 financial disclosure reported a $636 million payout tied to the TRUMP token and about $2.2 billion in total proceeds from his business ventures for the year. The token’s structure collected transaction fees that generated revenue for those who organized or promoted it regardless of whether the market rose or fell.

The TRUMP memecoin launched three days before the presidential inauguration. The president used his Truth Social account to urge followers to buy the token. Nicholas Pinto, a frequent crypto trader and 2024 Trump voter, said he lost roughly half of a $500,000 position and called the effort “almost a legal scam.”

Regulatory changes in early 2025 affect enforcement options. The Securities and Exchange Commission announced in February 2025 that it would pause scrutiny of memecoin transactions, a shift legal analysts say could reduce the chance of immediate federal action. The TRUMP memecoin website included a disclaimer framing the tokens as an “expression of support” rather than an investment opportunity.

Legal scholars say private lawsuits remain possible. Stephen Gillers, a professor of legal ethics at New York University, cautioned that public promotion may expose organizers to civil litigation and noted tensions between public appeals and private sales by insiders.

The TRUMP token is one of several digital assets linked to the president and his family. Financial filings show ties to World Liberty Financial, the company behind the WLFI token, from which Trump reported $799 million in 2025. A large early 2025 investment from the United Arab Emirates purchased nearly half of World Liberty. The WLFI token has fallen about 82 percent since September.

World Liberty representative David Wachsman attributed WLFI’s decline to broader market movements, saying “No one can control the markets,” and affirmed the company’s support for the token’s utility. The White House defended the ventures. Spokeswoman Anna Kelly said President Trump “proudly made the United States the crypto capital of the world” and stated that “all actions by President Trump and his administration are taken in the best interest of the American people.”

The data show a split between early sellers who locked in gains and later retail buyers who suffered losses: nearly one million holders are currently in the red while about half a million early sellers captured gains before the token’s price fell. Legal and regulatory questions about promotion and disclosure remain unresolved.