According to cryptocurrency analyst firm Nansen, nearly 1 million people lost a total of $3.8 billion after buying President Donald Trump’s $TRUMP memecoin.
This was reported by The New York Times Nansen’s analysis is based on publicly visible transactions on the blockchain and shows that 988,905 accounts lost money on memecoin by the end of June. That represents about two out of three TRUMP buyers.
on sunday USD TRUMP was trading at $1.69About 98% down from highs of $75.35.
Trump announced memecoin three days before his inauguration in 2025. He previously co-founded a crypto startup called World Liberty Financial with his sons. The $WLFI coin has also dropped significantly in value.
The President announced this in his last financial statement he made $636 million from $TRUMP memecoinroughly half of the $1.4 billion the president took in from the crypto industry last year.
This was reported by the Securities and Exchange Commission during the Trump administration will not regulate memecoins as securities and there is withdrew a number of lawsuits against cryptocurrency companies. “President Trump has proudly made the United States the crypto capital of the world,” a White House spokesperson told the NYT.
