Getting in early can make you rich in crypto. Getting in late? That can turn out to be a very different story. New blockchain data suggests that’s exactly what happened with the TRUMP memecoin. While the token helped generate more than $1.4 billion in crypto-related profits for President Donald Trump and his family-tied ventures, the vast majority of people who bought the coin ended up on the losing side of the trade.
According to cryptocurrency analytics firm Nansen, roughly two-thirds of 1.48 million wallets that have bought $TRUMP since it launched in January 2025 are now sitting on losses. By the end of June 2026, 988,905 wallets that purchased the token had recorded losses. Only about 492,000 wallets are in profit, and those gains are heavily concentrated among people who bought the token in its first few hours, when it traded for less than $1. Just two days later, the memecoin had rocketed to nearly $75.
Fast forward to today, and $TRUMP is trading around $1.79. That means the token has lost roughly 96% of its peak value. Its market cap has also shrunk from nearly $15 billion at its high to about $425 million as of the time of this reporting.
Interestingly, the winners still slightly outweigh the losers on paper. Across all wallets, gains and losses nearly cancel each other out, leaving a net profit of around $236 million. The catch is that this creates a massive wealth disparity: a tiny group of early whales successfully extracted billions in liquidity, while nearly a million everyday retail investors absorbed the corresponding multi-billion dollar hit.
It is important to note that these figures track both realized losses (investors who panicked and sold at a loss) and unrealized “paper” losses (investors still holding their tokens in digital wallets, hoping for a market recovery).
To cut Trump some slack, the crypto market, in general, has been a bit shaky lately. Bitcoin has fallen roughly 50% from the record highs it reached in late 2025, and much of the crypto industry has spent the first half of 2026 cooling off after an explosive run.
Trump’s crypto business keeps growing
$TRUMP’s decline hasn’t stopped Trump from remaining deeply involved in crypto. After once criticizing digital assets, he embraced the industry during the 2024 campaign, promising to make the United States the “crypto capital of the world.” Since returning to the White House, his administration has continued pushing policies seen as friendlier toward the crypto industry.
The president has also defended the money generated through his crypto ventures, saying he did nothing illegal and wasn’t aware of the full extent of his holdings. According to him, he handed day-to-day control of his businesses to his two eldest sons before taking office, though he did not divest his ownership.
Sources: Coindesk