- Nansen analyzed all TRUMP token transactions: 988,905 wallets are in the red. The total loss is $3.81 billion. Two-thirds of buyers lost money.
- Trump disclosed $636 million in income from the TRUMP token in his asset declaration. Chainalysis estimates approximately $320 million in transaction fee revenue flowing to creators. Together with other crypto ventures (World Liberty Financial), the declaration shows $1.4 billion.
- The TRUMP token has lost 98% of its value since its peak of $73.43. Current price: approximately $1.79.
- Each token transaction generates a fee for the project creators. The more trade, the higher the profit for the Trump organization, regardless of the direction of the exchange rate.
This is not a story about speculation that ended badly. This is a story about a product designed so that the creator makes money regardless of what happens to the price.
On July 4, 2026, the Nansen analytical company published a report with a full analysis of the history of transactions on the TRUMP token. The numbers are concrete. Of all the wallets that have ever purchased this token, 988,905 are in the red today. The total loss of these wallets is $3.81 billion – they spent more on the purchase than their tokens are now worth. At the same time, Donald Trump disclosed $636 million in income from the TRUMP token in the mandatory declaration of assets. Chainalysis additionally estimates approximately $320 million in transaction fees that have flowed into the wallets of the project’s creators since its debut.
Two sides of the same transaction. One made a billion. Nearly a million lost a total of $3.81 billion.
TRUMP token – data from the Nansen report, July 4, 2026
988 thousand
portfolios are in decline
$3.81 billion
total loss of investors
$956 million
Trump’s total earnings (license + network fees)
−98%
course from the peak to today
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How the token earns money for the creator regardless of the exchange rate
The Trump Organization controls approximately 80% of the total TRUMP token supply, with a gradual unlocking schedule. But this is not the only way to earn money. Each purchase and sale transaction on the token generates a fee that flows to the project creators. When the price rises and investors buy in euphoria, the fee goes to Trump. When the price falls and investors sell in panic, the fee also goes to Trump. Trade volume determines the level of income, not its direction.
The token may have lost 98% of its value from its peak of $73.43 to its current level of approximately $1.79, and the Trump Organization has been collecting fees all this time. Each panic sale is another fee. Each time you buy hope for a rebound, there is also a fee.
The scale of the losses: what the Nansen report shows
Nansen is an analytical company specializing in data from public blockchain registries. Her report is neither a survey nor an estimate, but an analysis of actual transactions recorded in the Solana Register. Every portfolio, every transaction, every purchase price, every residual value of the position.
Result: 988,905 wallets today have a token value lower than what they paid to purchase them. Two-thirds of buyers suffered a loss. One third made a profit – statistically, these are those who entered within the first hours after the debut in January 2026 or sold before the price lost the first half of its value.
How much did Trump earn on his own token?
As a federal official, Trump is required to disclose his sources of income annually. The declared income from the TRUMP token is $636 million – this figure comes from its own document submitted to Congress, not from external estimates. Chainalysis separately estimates approximately $320 million in transaction fees that have flowed into the wallets of the project’s creators since the debut. These are two different streams: one from the license agreement (Celebration Coins), the other from the fee mechanism for each transaction.
Combined with other crypto ventures, including the World Liberty Financial platform, the declaration of assets shows $1.4 billion in cryptocurrency revenues, according to an NBC News analysis.
It’s worth comparing these numbers with a total loss of $3.81 billion on the buy side. There is no simple translation – the investors’ loss does not go directly into Trump’s pocket. Investors lose on their own positions, and Trump makes money on fees and pool sales. These are two different mechanisms in one token.
The Trump token is no exception. That’s the rule.
The story of the TRUMP token is not a market anomaly – it is a concentrated example of a mechanism that applies to the entire memecoin market. Dune Analytics analyzed millions of transactions on Pump.fun, the largest memecoin creation platform on Solana. Results: 60% of wallet addresses suffered a loss, 4.7% broke even. Of those who made a profit, 24% earned less than $100 in total, which, after transaction fees on the Solana network, often amounts to breaking even or making an actual loss. 11.2% of addresses recorded a real profit above $100. Over a thousand dollars – 3%. Above ten thousand dollars – 0.5%. According to CoinMarketCap, 99.6% of Pump.fun participants have never earned more than $10,000 on memecoins.
An important methodological caveat: this data concerns wallet addresses, not people. One person can control many addresses, bots and automatic scripts have their own wallets, and Pump.fun itself estimates that about 30% of addresses on the platform are accounts with one transaction – probably machines. The data also only measures realized profit and loss: someone who holds a token that has lost 90% of its value but has not yet sold it does not appear in the loss statistics. For both of these reasons, the actual percentage of people who lost on memecoin is probably higher than these numbers would suggest.
On the supply side, the scale is even more telling. Over 11 million tokens have been launched on the Pump.fun platform. Of this number, 98% lost all their value within the first 24 hours of their debut. The infrastructure – launchpads, decentralized exchanges, trading bots – earns fees regardless of what happens to the price. Pump.fun alone has collected nearly $500 million in fees this way.
The TRUMP token fits this pattern, but on a rare scale: instead of the anonymous founder of the project, the beneficiary is the current president of the United States, and the token itself had a global and media reach, which attracted investors who had no previous contact with cryptocurrencies.
Why is it legal and what does it mean?
The TRUMP token is not a security within the meaning of US federal law. The Securities Exchange Commission (SEC) can only bring jurisdiction over a financial instrument if it can show that it was sold as an investment with an expectation of profit based on the work of others. The creators of the TRUMP token made sure not to make any such promise publicly.
I believe this is the most important lesson of this story – more important than the 3.81 billion figure itself. Memecoins can be designed so that the creator makes a structural profit on each transaction, while buyers have no legal protection, even if the project turns out to be a financial disaster for almost all participants. The lack of a security feature is no coincidence. This is a design choice that protects creators from legal consequences.
