Investors in cryptocurrency projects launched by the Trump family have lost more than $4.7 billion, according to a report published Thursday by watchdog organization Public Citizen.
Memecoin Losses Lead the Decline
The Official Trump (TRUMP) memecoin, launched three days before the president began his second term, accounted for $3.2 billion of the total losses. The token initially traded above $73 but has since fallen to below $2.
Public Citizen found that wealth from these losses was concentrated among early investors, with 1% of wallets holding 80% of gains while 65% of investors experienced losses totaling $3.2 billion. President Trump made no personal investment in the memecoin and earned $635 million in licensing fees from the token.
Other Crypto Ventures
World Liberty Financial's governance token, connected to a project involving Eric Trump and Donald Trump Jr., generated approximately $1 billion in investor losses. The token peaked at $0.33 in September 2025 and currently trades below $0.06, with different outcomes based on entry price: early private investors are up between 15% and 283%, while public market buyers near the peak are down approximately 83%.
Trump's 2022 NFT trading cards, sold at $99 each, declined in value from $12.3 million to $3 million, representing $9.3 million in losses for holders. Trump collected $7.2 million in licensing fees and royalties on the cards.
The World Liberty USD1 stablecoin was noted by Public Citizen as the one project where buyers have not suffered major losses.
Trump's Financial Gains
While investors lost billions, Trump earned approximately $1.4 billion through the projects, including $635 million from memecoin licensing fees, $600 million-plus from World Liberty token sales and equity positions, $7.2 million from NFT trading card licensing, and $197 million in capital contributions to World Liberty.
Legislative Timing
Public Citizen renewed calls for ethics provisions in proposed cryptocurrency legislation, arguing that sitting presidents and their families should be required to divest from the industry. The report's release coincided with Trump's calls for Senate passage of the Digital Asset Market Clarity Act, which faces a cloture vote on September 15 and requires at least 60 senators to advance.
