It was calculated that US President Donald Trump earned $636 million in revenue from the official memecoin project TRUMP, while investors who bought the token faced much greater losses. Data from Trump’s 2025 financial statement with blockchain analysis company Nansen revealed the difference between earnings and investor losses.
Wallet data indicated a huge loss
According to Nansen’s calculation, as of the end of June, 988 thousand 905 wallets had a total loss of 3.81 billion dollars. This figure includes realized losses as well as losses that are still held in wallets and remain on paper because they have not been sold.
The company’s data showed that nearly two-thirds of wallets that purchased TRUMP were at a loss. In comparison, a group of wallets under 500 thousand made a profit of approximately $ 4 billion. Nansen stated that most of these gains were due to early buyers and automatic trading systems that opened positions before the price increase and sold to the intense demand afterwards.
While approximately two-thirds of the wallets that purchased TRUMP remained at a loss, the majority of those who made a profit were made up of early buyers and automated trading systems.
TRUMP traded around $1.76 on Friday, according to CoinMarketCap data. This level is approximately 97 percent below the peak of $75.35, which the token reached on January 19, 2025. Trump launched the token three days before his second presidential inauguration and called on his supporters to join the community via Truth Social.
Revenue model remained price neutral
The price had to rise for individual investors to make a profit. However, it was reported that the Trump side’s income does not depend solely on the price increase. Thanks to the revenue stream resulting from token transactions, income could be generated whether the price rose or fell. This structure stood out as one of the main reasons for the difference between investor losses and Trump’s income.
Trump’s financial filing showed that he declared at least $1.4 billion in crypto-related income for the year. This amount accounted for more than half of the total reported revenue of $2.2 billion. Of the crypto revenues, $635 million came from memecoin royalties, $527 million from World Liberty Financial token sales, and approximately $263 million from shares in related companies.
Mini dictionary: Memecoin is a type of crypto asset that is often shaped around community interest, internet culture and visible names, and whose core usage may be limited. Paper loss refers to the loss of value in the wallet due to the asset falling below the purchase price even though it has not been sold.
The loss was also prominent on the WLFI side
Nansen detected a similar picture on the World Liberty Financial side. Of the 26,663 WLFI wallets monitored, 85 percent lost approximately $83 million. On the other hand, the total gain of the profitable wallets was approximately 23 million dollars.
The company warned that the actual damage could be higher. This is because many transactions occurring on exchanges cannot be fully monitored from on-chain data. WLFI traded around $0.056, down nearly 88 percent from its peak in September 2025, according to CoinMarketCap data.
Nicholas Pinto, one of the TRUMP investors, said that he invested approximately 500 thousand dollars in the project after supporting Trump in the 2024 elections and lost approximately half of his investment. Pinto described the project as “almost a legal scam.”
Ethics debate grows in Washington
Speaking to CNBC, Trump argued that he did not know that crypto startups earned at least $1.4 billion, that he could learn the exact figure if he wanted, and that it was not wrong to make money from digital assets. Trump also noted that he has no plans to withdraw his family from this business. White House Spokesperson Anna Kelly said that Trump turned the USA into the “crypto capital of the world” and acted in the country’s interests.
Senator Kirsten Gillibrand emphasized the need for ethical boundaries to prevent presidents, members of Congress and their families from enriching themselves from digital assets in line with their duties.
These data came to the fore when the Senate was trying to finalize the bill on the crypto market structure. Senator Kirsten Gillibrand renewed her call for ethical regulations that would prevent the president, members of Congress and their families from profiting from digital assets. Gillibrand is also participating as a co-sponsor of the End Crypto Corruption Act bill introduced by Senator Jeff Merkley and supported by 19 Democratic senators. Sens. Elizabeth Warren, Ruben Gallego and Angela Alsobrooks also expressed similar objections. Senate Banking Committee Chairman Tim Scott wants the bill to be brought to a general assembly vote before August.
