President Donald Trump's memecoin, $TRUMP, has resulted in losses of approximately $3.8 billion for around 1 million investors, with 66% of wallets reporting losses. Despite this, Trump himself disclosed earnings of $636 million from the cryptocurrency, which was launched shortly before his second inauguration. The token's value fluctuated dramatically, peaking at $75.35 before falling to $1.68. While early investors made significant profits, the majority suffered steep losses, illustrating a common trend with memecoins. Trump's financial disclosures indicate a substantial income from cryptocurrency ventures, including profits from World Liberty Financial. The White House maintains that Trump is not involved in business decisions related to cryptocurrency.

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Close to a million investors of the Trump memecoin lost a collective $3.8 billion, even as the president disclosed $636 million in earnings

Marco Quiroz-Gutierrez

By Marco Quiroz-Gutierrez Marco Quiroz-Gutierrez

Reporter Down Arrow Button Icon

Marco Quiroz-Gutierrez

By Marco Quiroz-Gutierrez Marco Quiroz-Gutierrez

Reporter Down Arrow Button Icon

July 7, 2026, 3:34 PM ET

President Donald Trump.

President Donald Trump.Roberto Schmidt—Getty Images

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President Donald Trump has raked in hundreds of millions of dollars from his signature cryptocurrency while his supporters have largely been left holding the bag, according to a report.

The Trump coin

The $TRUMP crypto is a memecoin, meaning its value isn’t tied to anything intrinsic. Because of this, the coin’s value can vary wildly. And indeed it has: the coin on Tuesday was trading at $1.68, down 97% from its all-time-high of $75.35.

While the coin’s own website says it is not an investment opportunity and is instead “intended to function as an expression of support for, and engagement with, the ideals and beliefs embodied by the symbol “$TRUMP” and the associated artwork,” many investors bought the coin with the hope that it might surge in value during Trump’s presidency.

While major losses have hit retail investors, Trump, once a cryptocurrency skeptic, has seen his crypto businesses quickly become a major part of his financial empire. His latest financial disclosure, as required to be filed with the U.S. Office of Government Ethics, showed that his crypto earnings reached $1.4 billion last year, making up the majority of what Trump has earned since returning to office.

Apart from his earnings from the $TRUMP coin, his companies also received $799 million from World Liberty Financial, the crypto venture he co-founded with his sons, Donald Trump Jr. and Eric Trump. That sum included about $250 million from selling his interests in World Liberty Financial as well as more than $520 million from sales of another token, World Liberty Financial’s WLFI token, which has also plummeted more than 80% from its peak.

With the Trump memecoin, only fewer than 500,000 people actually made money, totaling $4 billion in gains, according to the Nansen report. Still, these gains represented mostly early buyers who got in during the first hours of trading, before the token surged and then crashed. The Nansen report said that the group who won on Trump’s memecoin “reflects a small number of early buyers capturing enormous gains while the broad retail majority absorbed the losses.”

This is a common dynamic with meme coins. While early buyers and insiders often profit when a coin takes off, retail investors who arrive later are often left with the steepest losses.

As for the White House, a spokesperson told the Associated Press that Trump is not involved in business decisions, and that “neither the President nor his family has ever engaged—or will ever engage—in conflicts of interest.”

The White House did not immediately respond to Fortune’s request for comment.

Explore the Fortune Crypto 100, our global ranking of the companies leading the digital asset industry across 10 categories. Plus, our Fortune Crypto Innovators list recognizes 30 firms shaping what’s next.

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Marco Quiroz-Gutierrez is a reporter for Fortune covering general business news.

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Close to a million investors of the Trump memecoin lost a collective $3.8 billion, even as the president disclosed $636 million in earnings

By Marco Quiroz-GutierrezJuly 7, 2026