Investors who put money into President Donald Trump’s cryptocurrency ventures are collectively $4.7 billion underwater, according to a new report by advocacy group Public Citizen.
Trump himself has earned at least $1.4 billion from the various crypto ventures he has engaged with since returning to the White House in 2025.
Public Citizen clarified that the $4.7 billion figure is largely composed of unrealized losses, meaning the assets have declined in value but have not yet been sold.
The report also includes some realized losses where trading data allowed Public Citizen to measure them with sufficient precision.
The steepest investor losses are tied to the TRUMP memecoin (CRYPTO: $TRUMP), which Trump launched in January 2025, just three days before his inauguration.
Public Citizen estimates that approximately one million of roughly 1.6 million digital wallets that purchased the TRUMP memecoin are underwater by a combined $3.2 billion.
The TRUMP memecoin surged to an all-time high of $73.43 in January 2025 before collapsing to just $2.73, erasing the vast majority of its peak value.
Early buyers captured the bulk of those gains, with wallets that purchased during the token’s first two days of trading accounting for nearly 90% of total profits.
The Public Citizen report describes Trump’s earnings on his memecoin as “all profit” for the U.S. president, underlining the stark asymmetry between his returns and those of ordinary investors.
Investors have also absorbed significant losses across Trump’s other crypto vehicles, including World Liberty Financial (CRYPTO: $WLFI), Trump digital trading cards, and Trump Media’s Bitcoin (CRYPTO: $BTC) treasury accounts.
Trump Media & Technology Group (NASDAQ: DJT) stock has declined 45% over the past 12 months, with shares currently trading at $9.76.
The report highlights a pattern where Trump-affiliated crypto projects have consistently generated wealth for the president while leaving retail investors exposed to sharp downturns.
