Get all your news in one place.
100's of premium titles.
One app.
Start reading
Fortune
Fortune
Marco Quiroz-Gutierrez

Close to a million investors of the Trump memecoin lost a collective $3.8 billion, even as the president disclosed $636 million in earnings

(Credit: Roberto Schmidt—Getty Images)

President Donald Trump has raked in hundreds of millions of dollars from his signature cryptocurrency while his supporters have largely been left holding the bag, according to a report.

Of the 1.48 million wallets that bought the $TRUMP memecoin since it launched just three days before Trump’s second inauguration last year, about 66%, or 988,905 wallets, had lost money by the end of June. According to data from blockchain analytics firm Nansen, the combined losses were $3.81 billion, reported the New York Times.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.