Practically 1 million folks have misplaced a complete of $3.8 billion after shopping for President Donald Trump’s $TRUMP memecoin, in keeping with cryptocurrency analytics agency Nansen.
The New York Occasions stories that Nansen’s evaluation is predicated on transactions which might be publicly seen on the blockchain, exhibiting that 988,905 accounts had misplaced cash on the memecoin as of the tip of June. That represents round two out of three $TRUMP consumers.
On Sunday, $TRUMP was buying and selling at $1.69, down practically 98% from its excessive of $75.35.
Trump introduced the memecoin three days earlier than his inauguration in 2025. He’d beforehand co-founded a crypto startup, World Liberty Monetary, together with his sons. The $WLFI coin has additionally declined considerably in worth.
In a latest monetary disclosure, the president revealed that he made $636 million from the $TRUMP memecoin, accounting for practically half of the $1.4 billion that the president produced from the crypto trade final 12 months.
Beneath the Trump administration, the Securities and Alternate Fee has stated it won’t regulate memecoins as securities and has dropped a lot of lawsuits towards crypto firms. A White Home spokesperson advised the NYT, “President Trump proudly made the US the crypto capital of the world.”
