President Donald Trump reported more than $1.2 billion in cryptocurrency-related earnings in 2025, including just over $635 million tied to his TRUMP memecoin, according to his annual financial disclosure released by the U.S. Office of Government Ethics. The filing also showed he held more than $50 million in Bitcoin and between $5 million and $25 million in Ethereum. Separately, blockchain analytics firm Nansen found that 988,905 accounts had lost a combined $3.8 billion on the $TRUMP token by the end of June, indicating that roughly two out of three buyers were in the red.
The memecoin launched on the Solana network just days before Trump returned to office in January 2025. It surged to a peak of $75.35 before falling sharply; it was recently trading near $1.66 to $1.69, down about 98% from its high. Trump’s disclosure said his memecoin income came almost entirely from royalties linked to a licensing agreement with Celebration Coins. The filing also listed more than $588 million in net proceeds from token sales tied to World Liberty Financial, a decentralized finance and stablecoin venture operated by the Trump family and business associates.
Nansen’s analysis, based on publicly visible blockchain transactions, found that while nearly 1 million accounts posted losses, a far smaller group of roughly 5,000 buyers recorded gains totaling about $4 billion. Critics of memecoins argue that such tokens often concentrate profits among a limited number of participants while exposing retail buyers to steep losses. Some critics have also described politically branded memecoins as vehicles that can transfer wealth from supporters to insiders, though those characterizations remain matters of opinion rather than findings in the government disclosure itself.
Trump’s broader crypto activity has become a political flashpoint in Washington. A White House spokesperson said the president had made the United States the “crypto capital of the world.” Under Trump, the Securities and Exchange Commission has said it would not regulate memecoins as securities and has dropped several lawsuits against crypto companies. Democrats opposing the Clarity Act, a crypto bill that passed the House and is awaiting Senate action, argue the measure should include ethics provisions preventing the president and his family from participating in cryptocurrency businesses while in office.