Cryptocurrency ventures linked to U.S. President Donald Trump and his family have produced at least $4.7 billion in investor losses since 2022, according to a report from the consumer advocacy group Public Citizen. Most of the losses identified are unrealized, meaning investors have not necessarily sold the assets at a loss.

Public Citizen is a Washington-based nonprofit founded in 1971 that has previously produced research on corporate and political finance, and its reports are frequently cited in debates over government ethics and financial regulation. The findings were published on Aug. 27 and shared on X by @WuBlockchain (https://x.com/WuBlockchain/status/2093159865837592985), citing CoinPost. Public Citizen's analysis covers several crypto-related ventures associated with Trump and his family, including NFT trading cards, World Liberty Financial (WLFI), the TRUMP token, USD1, and Trump Media's cryptocurrency treasury strategy. According to the report, the TRUMP token accounted for the largest estimated share of the losses.

TRUMP Token Accounts for $3.2 Billion in Estimated Losses

Public Citizen estimated that investors in the TRUMP token have suffered approximately $3.2 billion in losses.

Data from Nansen cited in the report showed that roughly 1 million of the 1.6 million Solana wallets that purchased TRUMP were holding unrealized losses. The TRUMP token, launched in January 2025 on Solana, drew wide retail participation and was among the most high-profile memecoins tied to a political figure.

These figures reflect the difference between the current value of the tokens and the prices at which they were acquired, rather than losses realized through completed sales. As a result, the reported losses could change depending on subsequent movements in the token's market value and whether holders sell their positions. This distinction matters for how such estimates are interpreted: unrealized-loss calculations depend on the snapshot date and price basis used, and different analysts can arrive at different figures from the same underlying wallets.

The scale of the estimated losses makes the TRUMP token the largest single contributor to the overall $4.7 billion figure identified by Public Citizen.

WLFI and Trump Media Holdings Also Included

Public Citizen also estimated at least $1 billion in losses associated with WLFI, which is among the crypto ventures included in the report's broader assessment of projects connected to Trump and his family.

The analysis additionally examined Trump Media's cryptocurrency treasury strategy. Trump Media was estimated to have about $450 million in unrealized losses associated with its holdings of 9,477 BTC, according to Public Citizen.

The inclusion of the Bitcoin holdings in the calculation reflects the difference between the value of Trump Media's reported holdings and their relevant acquisition or accounting basis, as assessed in the report. Because the losses are described as unrealized, they do not necessarily represent permanent losses unless the assets are sold below their acquisition value.

The report also examined NFT trading cards and USD1 as part of its assessment of Trump-linked cryptocurrency ventures since 2022.

Trump Reported $1.4 Billion in Crypto-Related Income

The report also pointed to the financial benefits generated by Trump's crypto-related activities. According to the information provided, Trump reported at least $1.4 billion in income from related crypto businesses in his 2025 financial disclosure.

That figure provides a contrasting measure to the losses identified among investors. While Public Citizen's report focused on estimated investor losses across several Trump-linked crypto ventures, the financial disclosure figure reflects income reported by Trump from related businesses. The report therefore examines both sides of the financial activity surrounding the ventures: income reported by Trump and estimated unrealized losses among investors.

Public Citizen Examines Trump-Linked Crypto Activity

Public Citizen's analysis covers crypto projects and strategies associated with Trump and his family dating back to 2022, including NFT trading cards, WLFI, TRUMP, USD1, and Trump Media's Bitcoin treasury strategy.

The organization's estimated $4.7 billion in investor losses is largely based on unrealized losses, meaning the figure does not necessarily represent cash that investors have permanently lost. Market prices for digital assets can fluctuate significantly, and the value of unrealized positions changes as prices move. Consequently, the estimated loss figure represents the conditions examined in the report rather than a fixed final amount.

The findings nevertheless highlight the substantial financial scale surrounding Trump-linked cryptocurrency ventures. The TRUMP token alone represented an estimated $3.2 billion in investor losses, while Public Citizen attributed at least $1 billion to WLFI and approximately $450 million in unrealized losses to Trump Media's 9,477 BTC holdings.

The figures add to growing scrutiny of the financial activity surrounding Trump and his family's involvement in the cryptocurrency sector, an area where watchdog groups and lawmakers have raised questions about potential conflicts of interest involving a sitting president's business dealings.