President Donald Trump has publicly dismissed Bitcoin and other digital currencies as "thin air," yet his family and affiliated enterprises have assembled a steadily expanding crypto portfolio spanning NFTs, meme coins, governance tokens, stablecoins and a corporate crypto treasury. A new analysis by consumer advocacy group Public Citizen estimates that investors across five Trump-related crypto products are now at least $4.7 billion underwater.

According to Public Citizen's report, the $4.7 billion figure covers five products: Trump Digital Trading Cards, the $WLFI governance token, the $TRUMP meme coin, the USD1 stablecoin, and Trump Media & Technology Group's digital-asset treasury. The same analysis notes that Trump's latest financial statement lists at least $1.4 billion in profits from crypto-related activities in 2025.

$TRUMP drives most investor losses

The largest estimated loss comes from $TRUMP, the meme coin launched in January 2025 shortly before Trump's inauguration. Public Citizen estimates that investors who bought the token and remain underwater have suffered roughly $3.2 billion in largely unrealized losses.

The token peaked at $73.43 on the very day it was introduced and has since dropped significantly. Trump's remaining holdings of the token were valued at about $271 million at the time of the analysis, while he earned approximately $635 million in fees from the meme coin venture.

$WLFI adds another $1 billion

The second-largest estimated loss is tied to World Liberty Financial's $WLFI governance token, which Public Citizen estimates has cost investors at least $1 billion. The token has a total supply of 100 billion units, of which 31.8 billion are available for circulation. Trump reportedly holds 15.75 billion $WLFI tokens, though those holdings are subject to restrictions that prevent them from being sold straight away.

To date, $WLFI token sales have generated total income of $557 million, according to Public Citizen. The group also casts doubt on the degree of practical control that token holders exercise over World Liberty Financial's governance.

USD1 holds its peg while Trump Media takes a hit

USD1, the dollar-pegged stablecoin, stands out as the one product that has not caused substantial losses for users, having maintained its peg. In August 2026, Public Citizen estimated the value of USD1 in circulation at roughly $4.1 billion.

Trump Media's digital-asset holdings represent another major loss category. The company has been holding Bitcoin and other digital assets after raising billions of dollars through stock and convertible-debt funding. As of June 30, 2026, Public Citizen roughly estimates Trump Media's paper losses on Bitcoin at $450 million.

Trump's filings show he amassed at least $1.4 billion in crypto-related income during 2025. Taken together, the figures underscore how quickly Trump's crypto activity has moved from NFTs and speculative tokens toward stablecoins and corporate treasury holdings, while leaving a large share of the reported losses concentrated in products tied to his brand. The analysis also highlights the growing mix of consumer-facing and corporate crypto ventures now associated with Trump-related businesses.