Trump-Linked Crypto Products Leave Investors $4.7 Billion in Loss
<p class="text-left mb-4 ">Five crypto products linked to Donald Trump have left investors billions of dollars in the red. Public Citizen estimates combined losses at at least $4.7 billion.</p><p class="text-left mb-4 ">The report covers TRUMP, WLFI, Trump NFTs, USD1 and Trump Media. Most of the losses remain unrealized.</p><p class="text-left mb-4 ">Therefore, the total does not represent finalized cash losses. Changes in asset prices could increase or reduce the estimated amount.</p><p class="text-left mb-4 ">Public Citizen also estimates that Trump earned at least $1.4 billion from crypto activities in 2025. The group based its calculation on Trump’s latest financial disclosure.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">TRUMP investors face $3.2 billion in losses</h2><p class="text-left mb-4 ">According to the <a href="https://www.citizen.org/article/donald-trump-crypto-investors-4-7-billion-underwater/" target="_blank" rel="noopener noreferrer" class="text-primary underline">Public Citizen report</a>, TRUMP memecoin investors suffered the largest losses. Nansen examined decentralized exchange transactions on Solana.</p><p class="text-left mb-4 ">Around 1.6 million retail wallets bought TRUMP after its launch. Approximately 1 million of those wallets are underwater at current prices.</p><p class="text-left mb-4 ">Their combined losses reached an estimated $3.2 billion. Only about $400 million had been realized through sales.</p><p class="text-left mb-4 ">
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</p><p class="text-left mb-4 ">TRUMP launched on Jan. 17, 2025. Its price reached an all-time high of $73.43 within two days.</p><p class="text-left mb-4 ">However, the token had fallen to $2.22 during the period covered by the report. The decline generated heavy losses for buyers who entered the market later.</p><p class="text-left mb-4 ">Meanwhile, gains were concentrated among a limited number of early investors. Wallets that bought during the first two days captured nearly 90% of total gains.</p><p class="text-left mb-4 ">The top 1% of profitable wallets earned $2.7 billion. This represented 80% of all profits generated through TRUMP trading.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">WLFI losses reach at least $1 billion</h2><p class="text-left mb-4 ">WLFI, issued by World Liberty Financial, represented the report’s second-largest source of losses. Public Citizen estimated losses of at least $1 billion.</p><p class="text-left mb-4 ">A large portion came from Nasdaq-listed AI Financial Corporation. The company acquired around 7.28 billion WLFI in August 2025.</p><p class="text-left mb-4 ">According to the company’s <a href="https://www.sec.gov/Archives/edgar/data/862861/000149315226038732/form10-q.htm" target="_blank" rel="noopener noreferrer" class="text-primary underline">SEC filing</a>, the tokens had a cost basis of nearly $1.46 billion. Their fair value had fallen to $421.3 million by late June.</p><p class="text-left mb-4 ">The company therefore faced an unrealized loss of approximately $1.04 billion. Public Citizen also examined retail wallets trading on decentralized exchanges.</p><p class="text-left mb-4 ">Nansen data showed that 25,000 of 31,000 WLFI wallets were underwater. Their combined losses reached $54 million.</p><p class="text-left mb-4 ">The calculation does not cover transactions on centralized exchanges such as <a href="https://jrkripto.com/tr/exchanges/binance" target="_blank" rel="noopener noreferrer" class="text-primary underline">Binance</a>. Investor results on these platforms cannot be fully tracked through on-chain data.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Trump Media’s Bitcoin loss reaches $450 million</h2><p class="text-left mb-4 ">The report also included Trump Media’s Bitcoin reserve. The company held 9,477 Bitcoin as of June 30.</p><p class="text-left mb-4 ">The holdings had a total cost basis of approximately $1.006 billion. Their market value stood at $557 million on the same date.</p><p class="text-left mb-4 ">This left Trump Media with an unrealized Bitcoin loss of around $450 million. Public Citizen did not attribute the entire decline in its share price to the crypto strategy.</p><p class="text-left mb-4 ">Trump Media’s market value fell by approximately $3.1 billion after the strategy was announced. The report counted only the $450 million difference in the Bitcoin position.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">NFT investors lose $9.3 million</h2><p class="text-left mb-4 ">Public Citizen estimated losses of at least $9.3 million across Trump Digital Trading Cards collections. Three collections initially generated a combined $12.3 million in sales.</p><p class="text-left mb-4 ">The group estimated their current combined value at around $3 million. Series 3 was excluded because of insufficient trading activity.</p><p class="text-left mb-4 ">The report assigned no losses to USD1 holders. The stablecoin maintained its one-dollar peg during the period examined.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Trump’s crypto income exceeds $1.4 billion</h2><p class="text-left mb-4 ">Public Citizen estimated Trump’s 2025 crypto income at no less than $1.4 billion. TRUMP and World Liberty Financial were among the largest sources.</p><p class="text-left mb-4 ">According to the report, Trump earned $635 million from TRUMP-related licensing fees. His income from WLFI token sales reached $527 million.</p><p class="text-left mb-4 ">Trump also reported $65.6 million from selling an equity stake in World Liberty Financial. Public Citizen said it found no evidence that he invested personal capital in these ventures.</p><p class="text-left mb-4 ">However, the $4.7 billion figure does not represent a market-wide net loss. The calculation adds losses among underwater wallets without subtracting profits recorded by winning investors.</p><p class="text-left mb-4 ">The White House has previously denied that Trump or his family engaged in conflicts of interest. The administration continues to reject similar allegations. </p>