Trump's Insatiable Greed Costs Memecoin Investors Billions

WHO:

Alternet - President Donald Trump, Michael Wolff (biographer), Joanna Coles (co-host)

Fortune - President Donald Trump, Donald Trump Jr., Eric Trump

WHAT:

Alternet - Trump’s cryptocurrency scheme resulted in approximately 900,000 investors losing $3.8 billion, while Trump made about $636 million.

Fortune - Of the 1.48 million wallets that bought the $TRUMP memecoin, about 66% (988,905 wallets) lost money by the end of June.

Fortune - The $TRUMP memecoin was trading at $1.68, down 97% from its all-time high of $75.35.

Fortune - Fewer than 500,000 people made money from the $TRUMP memecoin, totaling $4 billion in gains.

WHERE:

Fortune - The $TRUMP memecoin was launched just three days before Trump’s second inauguration.

WHEN:

Fortune - The $TRUMP memecoin launched in January of the previous year.

Fortune - The financial disclosures indicated that Trump’s crypto earnings reached $1.4 billion last year.

WHY:

Alternet - Michael Wolff suggested that the public has not paid moral attention to Trump's financial activities, allowing him to continue his schemes.

Fortune - Many investors bought the $TRUMP memecoin hoping it would surge in value during Trump’s presidency.

HOW:

Fortune - Trump earns transaction fees each time the $TRUMP coin is bought or sold, profiting regardless of the coin's price fluctuations.

Fortune - Trump used his social media presence to promote the $TRUMP memecoin on platforms like X and Truth Social.

(UPDATED July 8, 2026 15:49 UTC)

President Trump’s cryptocurrency scheme has led to approximately 900,000 investors losing a staggering $3.8 billion, while he himself profited around $636 million. The $TRUMP memecoin, launched just three days before Trump’s second inauguration, has seen about 66% of its 1.48 million wallets lose money, with the coin now trading at just $1.68, down 97% from its peak of $75.35. Michael Wolff pointed out that the public has largely overlooked the moral implications of Trump’s financial activities, which has allowed him to continue profiting from the $TRUMP memecoin through transaction fees and promotion on social media platforms.