Investors in several crypto projects linked to United States President (US), Donald Trump, are estimated to have lost at least US$4.7 billion, according to a report by advocacy group Public Citizen.
At the same time, Trump reportedly earned at least US$1.4 billion from crypto-related activities throughout 2025.
TRUMP Memecoin Records Biggest Loss
The bulk of the losses came from the TRUMP memecoin that was launched in January 2025, a few days before Trump began his presidential term.
Public Citizen estimates that around 1 million of the 1.6 million retail wallets that bought TRUMP through decentralized exchanges are now in losses, with the total losses on paper reaching around US$3.2 billion.
However, only around US$400 million of that amount has been realized through sales.
TRUMP's price once soared to US$73.43 in January 2025 before declining to around US$2.73.
The report also found that buyers who entered in the first two days contributed almost 90% of the profits made by retail buyers.
WLFI and Bitcoin Trump Media Also Affected
World Liberty Financial (WLFI) also contributed at least US$1 billion to the total estimated losses.
Public Citizen also included a paper loss of about US$1.04 billion involving AI Financial Corp which bought 7.28 billion WLFI tokens at a price of around US$1.46 billion.
The company's shares then fell about 91% from US$7.04 to US$0.642.
Meanwhile, Bitcoin holdings owned by Trump Media & Technology Group also suffered a paper loss of around US$450 million.
The company owned 9,477 Bitcoins as of June 30 at a purchase cost of about US$1.006 billion, but their value at the time was only around US$557 million.
Trump Earns US$1.4 Billion From Crypto
Public Citizen also estimated at least US$9.3 million in losses for buyers of three Trump Digital Trading Cards collections.
However, holders of the USD1 stablecoin are not considered to have suffered losses because the token remains pegged to the US dollar.
According to the report, the US$4.7 billion figure is largely made up of paper losses, not money that was lost after the assets were sold.
Meanwhile, Trump reported at least US$1.4 billion in crypto-related income for 2025 in his latest financial disclosure.
The stark difference between investor losses and Trump’s earnings is expected to continue to raise concerns about the business model and risks of crypto projects linked to political figures.
