Investors who bought the TRUMP memecoin since its January 2025 launch are down a combined $3.81 billion, according to blockchain data from Nansen shared with CoinDesk. The same report said U.S. President Donald Trump has made more than $1.4 billion from his crypto ties. The gap reflects a familiar pattern in volatile token launches: early buyers booked the upside, while later entrants absorbed most of the drawdown.
Nansen’s data covers 1.48 million wallets that bought the token. Of those, 988,905 wallets are in the red, roughly two-thirds of the total. Another 492,285 wallets are in profit, with combined gains of $4.04 billion. Those profits are concentrated among traders who bought in the first hours of launch, when TRUMP traded below $1, before climbing to nearly $75 two days later.
Profit and loss split hinged on entry timing
Across all 1.48 million wallets, gains and losses largely offset, leaving about $236 million overall. That headline figure masks a sharp imbalance. A relatively small group of early participants captured most of the upside, while retail buyers who entered at higher prices were left with the bulk of the losses.
TRUMP now changes hands near $1.79, down about 96% from its peak. Its market capitalization stands at about $425 million, far below the nearly $15 billion recorded at the high in January 2025. Among the 722,000 wallets still holding the token, positions are worth a combined $465 million. Since launch, roughly $71 billion in value has moved through the token.
Market slump deepened the pain for late buyers
The losses in TRUMP also came as the broader crypto market weakened. The report said bitcoin has fallen roughly 50% from the record above $126,000 set in October, and the sector spent the first half of 2026 in a slump. Against that backdrop, the token’s collapse left late buyers with much steeper paper losses.
Trump, once a crypto critic, embraced the sector during the 2024 campaign and promised to make the U.S. the crypto capital of the world. After returning to the White House, he has kept those crypto ties in place while he and his appointees have directed the federal government toward a more welcoming stance on the industry. Trump recently said there was nothing improper about the income he earned from crypto-related businesses. He told CNBC he had done nothing illegal and did not know the full extent of his holdings, adding that he transferred day-to-day control of his businesses to his two eldest sons before taking office without divesting.
WLFI secondary-market buyers also face heavy losses
Losses also show up in World Liberty Financial, the crypto company in which Trump and his family maintain an ownership stake. Its WLFI token was sold in an ICO at $0.015 in the first round and $0.05 to the public, and remained non-transferable until Sept. 1, 2025. Secondary trading opened that day at $0.29 and reached $0.33.
Among the 26,663 wallets Nansen tracks as buying WLFI on secondary markets, 22,715 are underwater, or about 85%. Their combined losses total $83 million, versus $23 million in gains for profitable wallets. WLFI now trades around $0.056, down more than 80% from its peak, with a market capitalization of roughly $1.8 billion. The 241,651 wallets that bought in the ICO were not included in that loss figure.