Investors Lose $4.7B in Trump-Linked Crypto Ventures, Group Says

A new report has raised concerns about the financial risks surrounding cryptocurrency projects connected to U.S. President Donald Trump, estimating that investors have lost at least $4.7 billion across several ventures.

The estimate comes from Public Citizen, an advocacy group that examined five crypto products associated with Trump. The losses include investments that have already been sold at a loss as well as assets that have dropped in value but are still being held by investors.

The TRUMP memecoin represents the largest portion of the estimated losses. Trump introduced the cryptocurrency in January 2025, shortly before he returned to the White House. According to Public Citizen, about one million retail wallets that purchased the token through decentralized exchanges are now worth less than the amount originally invested.

The group puts the combined decline for those investors at roughly $3.2 billion. However, this does not mean that the entire amount has disappeared from investors’ bank accounts. Only about $400 million had been locked in as actual losses through sales, while the rest represented the current decline in the value of unsold tokens.

The token’s fall has been dramatic. After climbing to $73.43 in January 2025, TRUMP was worth about $2.73 by August 28, 2026. Public Citizen also found that people who entered the market during the token’s first two days received most of the gains made by retail participants.

Another major source of losses involves World Liberty Financial, a crypto project linked to the Trump family. Public Citizen estimates that investors have suffered at least $1 billion in losses connected to the project. Among the examples cited is AI Financial Corp., which spent about $1.46 billion acquiring 7.28 billion WLFI tokens. Its share price later dropped sharply.

Trump Media’s Bitcoin holdings also lost significant value. The company owned 9,477 Bitcoin as of June 30. The cryptocurrency had been acquired for around $1.006 billion, but its value was estimated at approximately $557 million, creating a paper loss of about $450 million.

There were also smaller losses involving Trump-branded digital trading cards. Public Citizen estimated that buyers of three collections were down by at least $9.3 million. The group did not count losses for USD1 because the stablecoin continued trading around its intended $1 value.

At the same time, Trump’s financial disclosure showed at least $1.4 billion in cryptocurrency-related income for 2025.

The findings highlight a striking divide in Trump’s crypto business. While some investors have seen the value of their holdings fall sharply, Trump and businesses connected to him have generated substantial income from the growing cryptocurrency market. The figures also serve as a reminder that crypto investments can produce large gains but carry equally significant risks, particularly when prices move rapidly. This is a market reality that crypto firms like Marathon Digital Holdings Inc. (NASDAQ: MARA) know all too well and take into account when they are making their financial projections and plans.

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