Trump's Crypto Ventures Leave Investors $4.7B Underwater, Report Finds

A new report by Public Citizen estimates that five crypto products tied to President Donald Trump and his family have left investors at least $4.7 billion underwater combined.

The report, titled 'Thin Air, Real Money,' examines the crypto business of Trump's administration and its impact on investors. The estimated losses are as follows: the TRUMP meme coin accounts for the largest share, with 65-82% of retail wallets that bought the token on decentralized exchanges underwater, totaling $3.2 billion to $4.5 billion in combined losses.

The report also found that Trump's digital-asset treasury carries a $450 million paper loss on its bitcoin holdings as of June 30, while the Trump Digital Trading Cards NFT series has lost buyers a combined $9.3 million.

Public Citizen calculated that Trump personally made at least $7.2 million from NFT royalties, $557 million from WLFI token sales, $635 million in TRUMP licensing fees, and roughly $199 million from USD1-related revenue.