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Fortune

Sasha Rogelberg

Thousands of investors in Trump’s memecoin lost $2 billion in just weeks while the family and its partners racked up $100 million in trading fees

Donald Trump Donald Trump Jr. Trump Organization Chainalysis Crypto Fortune

Photo of Donald Trump (Credit: Photo by Spencer Platt—Getty Images)

More than 813,000 crypto wallets have lost a total of $2 billion after buying President Donald Trump’s memecoin, according to an assessment by Chainalysis commissioned by the New York Times. Meanwhile, the Trump Organization and its partners gained $100 million in trading fees. Since its Jan. 17 launch, $TRUMP has lost most of its value, which is now about $16 per share, down from its $75 peak.

Less than three weeks after its release, President Donald Trump’s memecoin has produced more losers than winners. For every dollar in trading fees the Trump crypto creators raked in, investors lost $20.

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