On-chain analytics firm Nansen has uncovered a stark disparity in the TRUMP token market: as of end of June, 988,905 wallets collectively recorded $3.81 billion in losses, including both realized losses and unrealized paper losses. Meanwhile, President Donald Trump personally bagged $636 million from the meme coin.
Uneven distribution of gains and losses
Nansen's analysis found that roughly two-thirds of TRUMP-holding wallets ended up in the red. In contrast, a group of fewer than 500,000 wallets realized around $4 billion in profits — mostly captured by early buyers and automated trading systems that entered before the price surge and later sold at inflated prices to new entrants. The token peaked at $75.35 on Jan. 19 and has since crashed to about $1.76, a 97% plunge.
A key structural reason for the divergence: Trump's revenue came from transaction fees, which accrued regardless of price direction. His financial disclosure showed at least $1.4 billion in crypto-related income out of total $2.2 billion revenue, with $635 million from memecoin royalties, $527 million from World Liberty Financial (WLFI) token sales, and $263 million from equity stakes in affiliated entities.
WLFI: same pattern, different token
Nansen observed a similar dynamic with WLFI: 85% of 26,663 tracked wallets suffered losses totaling about $83 million, while profitable wallets collectively gained only $23 million. Actual losses may be higher as exchange trades are not fully on-chain traceable. WLFI traded at ~$0.056, down 88% from its September 2025 peak.
Investor Nicholas Pinto said he lost half of his $500,000 investment in TRUMP after backing Trump in the 2024 election, calling the project “almost a legal scam.”
Washington ethics debate heats up
Trump told CNBC he was unaware his crypto ventures had generated at least $1.4 billion, saw nothing wrong with profiting from digital assets, and has no plan to withdraw his family from these businesses. White House spokesperson Anna Kelly defended the president. But Senator Kirsten Gillibrand renewed calls for ethical rules barring the president, members of Congress, and their families from personally profiting from digital assets. The End Crypto Corruption Act, co-sponsored by Gillibrand and backed by 19 Democrats, is gaining momentum as Senate Banking Committee Chair Tim Scott pushes for a floor vote before the August recess.