The TRUMP meme coin accounts for an estimated $3.2 billion in investor losses, according to Public Citizen’s latest report.
US consumer advocacy group Public Citizen reported that crypto ventures linked to Donald Trump and his family have left investors with at least $4.7 billion underwater since 2022.
Most of the losses remain unrealized.
Trump’s Crypto Empire
Public Citizen estimated that investors in Trump Digital Trading Cards, launched in December 2022, have suffered at least $9.3 million in losses, while the WLFI token has left investors at least $1 billion underwater.
The largest amount came from the TRUMP meme coin, which Public Citizen estimated had resulted in $3.2 billion in losses for investors. Since its all-time high of $73 back in January 2025, the token has lost over 97% of its value. Earlier this month, US Senators Elizabeth Warren and Richard Blumenthal asked SEC Chair Paul Atkins to investigate the meme coin. They said that it may have enabled fraud or unfairly enriched people at the expense of everyday investors.
The advocacy group put losses tied to Trump Media’s digital-asset treasury at $450 million, while it estimated no losses for USD1, which brings the total to at least $4.7 billion.
Trump is said to have made at least $1.4 billion from crypto in 2025, based on his latest financial disclosure released in June 2026. But the disclosure does not indicate that he invested any of his own money in these ventures, according to Public Citizen.
While the White House has said neither the president nor his family have engaged or will engage in conflicts of interest, the report said Trump continues to own and control his businesses. The group said his stakes in the digital trading cards, the meme coin, World Liberty Financial’s two tokens, as well as Trump Media & Technology Group, are held through a revocable trust in which the president is the sole donor and beneficiary. His eldest child, Donald Trump Jr., meanwhile, serves as the sole trustee.
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Clash Over Clarity
The push to strengthen the US crypto industry and advance the Digital Asset Market Clarity Act has continued to draw criticism over the family’s financial ties to digital assets. Last week, Trump met with executives from Coinbase, Ripple, Gemini, and other crypto firms at the White House, calling on Congress to pass a “fair version” of CLARITY while adding that it would help keep the US ahead of China.
But critics, including Ben McKenzie and Chris Van Hollen, warned that the bill could leave loopholes allowing Trump to profit from his ventures.
Previously, prominent comedian and political commentator John Oliver also described crypto as “a perfect vehicle to funnel money” to the US President’s family, while adding that Trump is “exploiting crypto sketchiness for maximum profit.”
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