Nearly 1 Million Wallets Lost $3.81 Billion on Trump's Memecoin
Macro & Markets ·
A new report finds close to 1 million wallets are underwater on the TRUMP token even as the president's 2025 financial disclosure shows thet coin generated hundreds of millions in personal income.
Nearly 1 million wallets are down a combined $3.81 billion on Trump's memecoin, according to a report detailed by The Block. The figure tracks losses accumulated through June, a period during which the token fell 97% from its peak, wiping out most of the value held by retail buyers who entered after launch.
Trump's own financial disclosure for 2025 shows a different picture on the other side of the ledger: a $636 million payout tied directly to the token, part of more than $1.4 billion in total crypto-related income reported for the year. The disclosure ties the president's declared earnings to the same asset that has left a large base of retail holders deep in losses.
The mismatch between insider and retail outcomes is stark. Early insiders in the token are reported to have captured roughly $4 billion in profits, a sum that approximates the total losses now borne by the near-1-million wallets still holding or having exited the coin at depressed prices. That gap sits at the center of the report's findings and has been picked up across multiple outlets covering the disclosure alongside the wallet-loss data.
The cluster of reporting is consistent on the headline numbers — nearly 1 million wallets or investors, $3.81 billion in collective losses, a 97% decline from the token's high — even as individual accounts frame the story slightly differently, with some emphasizing the retail-investor angle and others centering the financial-disclosure figures. The Block's account, cited above, anchors the $636 million and $1.4 billion figures specifically to Trump's annual disclosure for 2025.
What remains unclear from the available reporting is how the $3.81 billion loss figure was calculated across nearly 1 million wallets, whether that includes wallets that have since exited entirely, and what portion of the $1.4 billion in crypto income disclosed for 2025 is attributable to sources beyond the token itself. Also unresolved is any accounting of how the roughly $4 billion in insider profits was distributed or whether further disclosures will break down the underlying transactions in more detail.