Almost 1 million folks have misplaced a complete of $3.8 billion after shopping for President Donald Trump’s $TRUMP memecoin, based on cryptocurrency analytics agency Nansen.
The New York Times reports that Nansen’s evaluation relies on transactions which might be publicly seen on the blockchain, displaying that 988,905 accounts had misplaced cash on the memecoin as of the top of June. That represents round two out of three $TRUMP patrons.
On Sunday, $TRUMP was trading at $1.69, down practically 98% from its excessive of $75.35.
Trump introduced the memecoin three days earlier than his inauguration in 2025. He’d beforehand co-founded a crypto startup, World Liberty Monetary, along with his sons. The $WLFI coin has additionally declined considerably in worth.
In a latest monetary disclosure, the president revealed that he made $636 million from the $TRUMP memecoin, accounting for practically half of the $1.4 billion that the president constituted of the crypto business final yr.
Underneath the Trump administration, the Securities and Trade Fee has mentioned it will not regulate memecoins as securities and has dropped a number of lawsuits against crypto companies. A White Home spokesperson informed the NYT, “President Trump proudly made the USA the crypto capital of the world.”
