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Investors lost $3.8 billion on Trump memcoin
Сryptocurrency
Nearly a million people lost a total of $3.8 billion after buying President Donald Trump's coin, $TRUMP.
This is evidenced by data from the crypto analytics company Nansen, cited by Yahoo.
According to The New York Times, Nansen's analysis is based on publicly available blockchain transactions: as of the end of June, 988,905 accounts had lost money on the memcoin. That's about two out of every three $TRUMP buyers.
On Sunday, $TRUMP traded at $1.69—nearly 98% below its peak of $75.35.
Trump announced the memcoin three days before his inauguration in 2025. He previously co-founded the crypto startup World Liberty Financial with his sons. The $WLFI coin also lost significantly in value. In his recent financial disclosure, the president disclosed that he earned $636 million from the $TRUMP coin—almost half of the $1.4 billion he earned from the crypto industry last year.
Under the Trump administration, the Securities and Exchange Commission (SEC) announced it would not regulate coin offerings as securities and dropped several lawsuits against crypto companies.