Trump Memecoin Buyers Sit on $3.8B in Losses as WLFI Holders Also Underwater

Buyers of the TRUMP memecoin are collectively sitting on $3.81 billion in unrealized losses, according to blockchain analytics firm Nansen, whose data was shared with CoinDesk. The figure covers roughly two-thirds of the 1.48 million wallets that have purchased the token since its January 2025 launch, even as President Donald Trump himself has personally earned more than $1.4 billion from the project.

Nansen’s data shows 988,905 wallets are currently underwater, while 492,285 wallets remain in profit, up a combined $4.04 billion. Those gains are heavily concentrated among early buyers who purchased TRUMP in its opening hours, when it traded below $1, before the token spiked to a near-$75 high just two days after launch.

Across all 1.48 million wallets that have ever held the token, gains and losses roughly net out to about $236 million, illustrating how a small group of early entrants captured the bulk of the upside while later retail buyers, who entered at much higher prices, are now nursing steep losses.

Token value has collapsed 96% from its peak

TRUMP was trading near $1.79 at the time of reporting, down about 96% from its all-time high, according to CoinDesk. Its market capitalization has fallen to $425 million, compared with nearly $15 billion when the token peaked in January 2025.

Of the 722,000 wallets still holding TRUMP, their combined positions are now worth $465 million. Nansen estimates that about $71 billion in value has moved through the token since its launch.

The deepening losses coincide with a broader market slump. Bitcoin is down roughly 50% from the record above $126,000 it set in October, and the wider crypto sector has struggled through the first half of 2026, CoinDesk notes.

WLFI’s secondary market buyers fare even worse

World Liberty Financial, the crypto venture in which Trump and his family hold a stake, has seen its WLFI token suffer similar losses under a different sales structure. Tokens were sold through an initial coin offering at $0.015 in the first round and $0.05 to the public, and remained non-transferable until September 1, 2025.

When secondary trading opened, WLFI began at $0.29 and briefly touched $0.33. Of the 26,663 wallets Nansen tracks buying WLFI on secondary markets, 22,715 — about 85% — are now underwater, with combined losses of $83 million against just $23 million in collective gains.

WLFI now trades around $0.056, down more than 80% from its peak, giving it a market capitalization of $1.8 billion. Nansen’s loss calculation excludes the 241,651 wallets that participated directly in the ICO.

Trump has defended his crypto earnings

Trump, once a vocal crypto skeptic, embraced the industry during his 2024 campaign and has promised to make the United States the “crypto capital of the world.” He has maintained his personal crypto ties throughout his presidency even as his administration has pushed the federal government toward friendlier digital-asset policy.

Trump recently told CNBC that there was nothing wrong with the income he made from his crypto-related businesses, saying he did nothing illegal and was unaware of the full extent of his holdings. He added that he had handed day-to-day control of his businesses to his two eldest sons before taking office, without fully divesting.

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