Nineteen days after the launch of Official Trump (TRUMP), investor losses from the US president’s memecoin have reached $2 billion, according to estimates reported by NYT.
Based on data from Chainalysis, Nansen, and Molly White, reviewed by the publication, 813,294 users have experienced losses.
Companies associated with the asset have earned $100 million in fees.
CIC Digital and Fight Fight, controlling about 80% of the supply, have converted a small portion of funds into fiat. Specific figures are not provided.
At its peak, TRUMP was valued at $75, but its price has since dropped by ~79% to $15.78. Its market capitalization stands at $3.16 billion, ranking 45th among crypto assets by market value.
Journalists noted that some users managed to profit. For instance, on the first day of TRUMP trading, one investor purchased nearly 6 million tokens at $0.18 each. Two days later, they realized a profit of $109 million.
In February, the non-profit organization Public Citizen urged the US Department of Justice and the Office of Government Ethics to investigate TRUMP for potential violations of federal corruption laws.
In January, the US president’s cryptocurrency initiatives drew interest in Congress.
The current decline in TRUMP aligns with the overall trend of celebrity memecoins.
According to Messari, the average drop for such assets from their ATH is 78%, analysts calculated. They included MOTHER, DADDY, TRUMP, MELANIA, and JAILSTOOL in their analysis.
Major celeb coins are down on average 78% from ATHs.
(h/t @Degenerate_DeFi) pic.twitter.com/SVX6E2UAto
— Messari (@MessariCrypto) February 10, 2025
In January, Tuttle Capital Management submitted an application to the SEC to register ten 2x leveraged crypto ETFs, including those based on the TRUMP and MELANIA memecoins.
Previously, REX Shares — a division of Osprey Funds focused on digital assets — submitted a proposal to launch a series of products based on Ethereum, Solana, XRP, BONK, TRUMP, and DOGE.