WASHINGTON, July 5, 2026 – President Donald Trump's $TRUMP memecoin has generated substantial royalty income for the Trump family, while the vast majority of token holders have suffered significant losses. According to data from Nansen, reported by CoinDesk and The New York Times, nearly one million wallets that purchased $TRUMP were down a combined $3.81 billion through June, while a smaller group of profitable wallets saw gains of $4.04 billion.
Trump's latest financial disclosure, released by the U.S. Office of Government Ethics on June 30, revealed more than $635 million in royalties from the memecoin business, along with over $1.4 billion from other crypto ventures. This payout alone is larger than the market value of American Bitcoin Corp. (NASDAQ:ABTC), a crypto company backed by Donald Trump Jr. and Eric Trump, which traded at a market cap of about $572 million. The royalties also represent approximately 27% of Trump Media & Technology Group's (NASDAQ:DJT) market value of $2.36 billion.
Winners and Losers
Nansen's analysis showed that 492,285 wallets were profitable, with average gains of about $8,207 each, while 988,905 wallets were in the red, with average losses of approximately $3,853. The winners were predominantly early buyers who entered within the first hours of trading, when the token was priced below $1. $TRUMP surged to a peak of $75.35 just two days later before collapsing. As of Sunday, the token traded near $1.69 on Binance, down roughly 98% from its all-time high.
Broader Crypto Exposure
Beyond $TRUMP, Trump's disclosure included more than $550 million from World Liberty Financial token sales and about $260 million from sales of interests in that business. World Liberty's WLFI token has also performed poorly, with CoinDesk reporting that 85% of secondary-market wallets were underwater. The token traded at 5.7 U.S. cents, down 82% since its September launch.
Reuters reported in June that the Trump family had made $2.3 billion from crypto with minimal downside risk, while outside investors had lost a similar amount, including paper losses, as of the end of April. Seoyoung Kim, associate professor of finance at Santa Clara University, described the startup costs as "small amounts," while Duke finance professor Campbell Harvey suggested that one World Liberty token sale appeared to involve "insiders dumping" their holdings.
Market Implications
The disparity between insider gains and public investor losses raises questions for holders of Trump-linked public stocks. Investors must now consider whether they are buying operating exposure, bitcoin exposure, or political-brand exposure after the largest cash gains have already flowed to private or insider-linked vehicles. The White House has rejected conflict-of-interest claims, with spokeswoman Anna Kelly stating, "Neither the President nor his family has ever engaged — or will ever engage — in conflicts of interest." Treasury Secretary Scott Bessent told CBS News, "I don't think there's an appearance problem," when asked about Trump's crypto earnings.
U.S. cash equities were not trading Sunday, with the NYSE and Nasdaq closed on July 3 for the Independence Day observance. The next trading session will provide further context for how public markets price these Trump-linked assets.
