rewrite this title in other words: NYT: Donald Trump’s TRUMP Token Leaves Nearly a Million Buyers Down $3.81B

Massive Losses for Retail Buyers

Nearly 1 million investors who bought President Donald Trump’s memecoin have lost money, according to The New York Times, citing cryptocurrency analytics firm Nansen data. The losses, which total $3.81 billion through the end of June, have sparked sharp criticism from some supporters who say the president leveraged his public trust for personal financial gain.

The data shows that 988,905 buyers of the TRUMP token — roughly two out of every three buyers — are currently in the red. The coin was trading at $1.76 on July 3, representing a 97% plunge from its peak price of $75.35. The assessment follows the release of Trump’s annual financial disclosure, which revealed he secured $636 million from the token alongside a broader $2.2 billion haul from his various business ventures in 2025.

According to Nansen, the structure of the venture allowed President Trump to profit from transaction fees regardless of whether the token’s value rose or fell. Trump frequently used his Truth Social account to urge followers to purchase the coin after its launch three days before his inauguration.

“He is leveraging the power of being president to launch currencies, when he seems trustworthy in the public’s eye,” said Nicholas Pinto, a frequent crypto trader and 2024 Trump voter who reported losing roughly half of his $500,000 investment in the token. “It is almost a legal scam.”

The White House rejected allegations that the president profited at his supporters’ expense.

“President Trump proudly made the United States the crypto capital of the world,” White House spokeswoman Anna Kelly said. “All actions by President Trump and his administration are taken in the best interest of the American people.”

Broader Digital Currency Ventures

The TRUMP token is one of several digital currency initiatives tied to the president. His family is also widely linked to World Liberty Financial, a crypto startup that sells a token called WLFI. Trump’s financial disclosure showed he generated $799 million from World Liberty last year, boosted by a major early 2025 investment from the United Arab Emirates, which purchased nearly half the company.

World Liberty spokesman David Wachsman reportedly attributed the 82% decline of the WLFI token since September to broader market declines affecting major cryptocurrencies like bitcoin.

“No one can control the markets,” Wachsman said, adding that the company stands behind the token’s growing utility.

While the majority of retail buyers experienced losses, Nansen noted that approximately 500,000 early and sophisticated buyers captured a combined $4 billion in profits by selling before the market crashed.

Legal experts say federal regulatory changes may insulate the president from immediate government action, noting that the Securities and Exchange Commission announced in February 2025 that it would halt scrutiny of memecoin transactions. Additionally, the TRUMP memecoin website featured a disclaimer stating the tokens were intended as an “expression of support” rather than an investment opportunity.

However, Stephen Gillers, a professor of legal ethics at New York University, said the disclosures might not completely block future civil litigation.

“Trump back when he was a real estate developer boasted that he plays ‘to people’s fantasies,’” Gillers said. “Here he seems to have encouraged supporters to invest with the expectation they could anticipate riches — even as he himself was cashing out.”