Almost 1 million individuals misplaced a complete of $3.8 billion by buying President Donald Trump’s $TRUMP meme coin, in response to crypto evaluation agency Nansen.
The New York Times reported Nansen’s evaluation relies on publicly traded transactions on the blockchain, exhibiting that 988,905 accounts had misplaced cash on meme cash as of the tip of June. This equates to roughly 2 out of three $TRUMP patrons.
on sunday, $TRUMP was trading at $1.69down almost 98% from its all-time excessive of $75.35.
Trump introduced the meme coin three days earlier than his 2025 inauguration. Trump beforehand co-founded the cryptocurrency startup World Liberty Monetary together with his sons. The worth of the $WLFI coin additionally dropped considerably.
In a current monetary disclosure, the president revealed: He made $636 million from the $TRUMP meme coinaccounting for almost half of the $1.4 billion the president produced from the crypto trade final yr.
Below the Trump administration, the Securities and Trade Fee mentioned it might not regulate memecoins as securities and dropped many lawsuits in opposition to crypto firms. “President Trump has proudly made the USA the crypto capital of the world,” a White Home spokesperson advised the NYT.
