Initially soaring to a peak of $75 per token, the so-called “Official Trump” coin has since tumbled to around $16.50, wiping out billions in value.
While the broader market downturn has impacted many digital assets, this particular token stands out for its ties to the sitting president and the windfall profits secured by a select few.
According to the New York Times, the Trump family and its partners have amassed nearly $100 million in trading fees from the venture, most of which remains uncashed. At the same time, an analysis of blockchain transactions conducted by Chainalysis and Nansen shows that early traders—31 in total—raked in $669 million in profits, leaving 813,294 other wallets collectively nursing $2 billion in losses.
A Select Few Reap the Rewards
The structure of the Trump coin’s rollout has drawn scrutiny from both financial analysts and former regulators. The Times reports that a crypto wallet, created just hours before the token’s official launch, purchased $1,096,109 worth of $TRUMP within minutes of Trump’s announcement. That trader quickly sold off their holdings, generating an estimated $109 million in profits. Another investor who began buying within two minutes of launch netted $2.7 million in a matter of minutes.
While no direct evidence has emerged proving insider trading, the timing of these transactions has raised concerns. Molly White, a crypto researcher who analyzed the data, identified suspicious trading patterns suggesting that some individuals may have had early knowledge of the launch. Corey Frayer, a former crypto adviser to the SEC, warned that Trump’s simultaneous push to ease regulations on the industry while personally profiting from it presents a potential conflict of interest.
The Heavy Toll on Everyday Investors
For many Trump supporters who bought into the hype, the token’s collapse has been financially devastating. Shawn M. Whitson, a small business owner from North Carolina, initially cheered his investment in $TRUMP, celebrating both his political allegiance and the coin’s rise. However, as the price plummeted, his optimism quickly faded. “Done with this $TRUMP crap,” he wrote, calling the experience “a joke.”
Despite the backlash, the Trump family appears undeterred in its crypto ventures. Alongside the Trump-branded token, they recently unveiled TruthFi, a financial services platform marketed as an alternative to “woke funds.” Whether this latest endeavor will follow a similar trajectory remains to be seen, but for the thousands who bought into $TRUMP at its peak, the losses are already painfully real.
Still, crypto sentiment can change on a dime. Given Trump’s ego, he won’t be happy to see his coin languishing. We have little doubt that some time later in 2025, the Trump token will rise again, to new all-time highs.
