U.S. President Donald Trump picks up a challenge coin to hand to veterans during an executive orders signing event in the Oval Office at the White House in Washington, D.C., U.S., April 23, 2025. REUTERS/Leah Millis.
Reuters
Donald Trump’s dabbling in crypto financial instruments is leaving a bad taste in the mouths of investors who bet on the president’s enthusiasm, only to have their pockets emptied.
According to a report from Politico, the $TRUMP memecoin has crashed 95 percent from its January 2025 peak, leaving retail investors devastated, while Trump, his family and other insiders have cashed in to the tune of approximately $320 million.
According to Politico's Declan Harty, "Eleven months ago, a gala dinner for major investors in the cryptocurrency token set off a buying frenzy from MAGA-loving crypto traders, outrage among Democrats and a headline-grabbing protest at the event. But a similar event planned for Saturday at Mar-a-Lago is highlighting a growing disenchantment with Trump's crypto ventures."
Trump's memecoin is overwhelmingly held by two entities: an affiliate of the Trump Organization and a company run by Bill Zanker, a longtime Trump business partner –– both collect fees on the memecoin's trading.
Crypto investor Morten Christensen captured the investor fury.
"Nobody likes it," he told Harty. "People are losing on the coin, and they are vocal. They are the people on Twitter like, 'F--- this coin' or 'It's a scam.' And they're right, basically."
The memecoin soared to $75 shortly after its debut, then cratered. More than $12.9 billion traded hands in the immediate run-up to the 2025 dinner. But this year's event only drew $1.4 billion in trading volumes — a 89 percent collapse in investor interest.
Trump's other business ventures are also collapsing. Shares in Trump Media & Technology Group, the Truth Social parent company, have crumbled 75 percent since Trump's inauguration, Politico is reporting before adding that former GOP Rep. Devin Nunes (CA) being replaced as CEO this week. Meanwhile, Justin Sun, a once-major backer of World Liberty Financial — a crypto company with ties to the Trump family — sued the company Tuesday.
This week's Mar-a-Lago crypto conference is being marketed as desperate damage control. Advertised as "THE MOST EXCLUSIVE CRYPTO & BUSINESS CONFERENCE IN THE WORLD!" the event is limited to the top 297 $TRUMP investors, featuring Mike Tyson, Tony Robbins, and Trump himself speaking at lunch.
Even Democratic critics have given up. A senior Democratic Senate aide, granted anonymity, told Politico, the event is "horrible and awful," but added "people see it for what it is: a con."