Nearly 1M Wallets Lose $3.81B on TRUMP Token

Blockchain analytics firm Nansen found that 988,905 of roughly 1.48 million wallets that bought the TRUMP token recorded combined losses of $3.81 billion through the end of June. The figures include both realized losses from sales and unrealized, or paper, losses on tokens still held.

The TRUMP token was trading near $1.78 on Saturday, about 97% below its January peak. Nansen reported 492,285 wallets were in profit, with gains concentrated among addresses that bought in the token’s first hours at prices below $1 before prices briefly climbed toward roughly $75 two days after launch.

Across all tracked wallets, cumulative gains and losses net to about $236 million. The president’s annual financial disclosure lists roughly $636 million in receipts tied to the token, reported as royalties flowing through CIC Digital LLC, and links additional sums to the Trump family’s World Liberty Financial project. The president has said his funds are managed by outside institutions and that investors benefited from rising markets. A White House spokesperson, Anna Kelly, described the president as having “proudly made the United States the crypto capital of the world” and stated the administration acts in Americans’ best interest.

Nansen also analyzed WLFI, the governance token for World Liberty Financial. Of 26,663 wallets the firm tracks buying WLFI on secondary markets, 85% showed losses, totaling about $83 million in losses versus $23 million in gains. That count excludes 241,651 wallets that bought WLFI directly in the project’s token sales and likely undercounts trading activity that occurs off-chain or on nontransparent venues. WLFI traded around $0.056 on Saturday, more than 80% below its price when secondary trading opened last September. A World Liberty spokesperson, David Wachsman, attributed the token’s decline to broader market conditions impacting bitcoin and other cryptocurrencies.

The broader market downturn has reduced the value of many token holdings. Bitcoin has fallen roughly 50% from record levels set in October, and the TRUMP token’s market capitalization has declined to near $425 million from nearly $15 billion at its January high. These shifts reduced the value of wallets that bought during the initial publicity-driven surge.

The Nansen figures arrived while Congress considers the CLARITY Act and other ethics proposals that would restrict certain crypto activities by federal officials. One proposal from Senator Kirsten Gillibrand sought to bar elected officials and their spouses from issuing or sponsoring tokens; a similar restriction was removed from earlier legislation before it passed last year. Estimates released earlier in the year put the Trump family’s crypto-related proceeds at roughly $1.4 billion over the prior year, representing about one-fifth of its reported net worth.

Together, the TRUMP and WLFI tokens drew participation from millions of wallets. Nansen’s data show returns have been concentrated among a relatively small group of early entrants while a majority of later or secondary-market buyers hold losses. A representative for the TRUMP venture did not respond to requests for comment.