Investors in President Donald Trump’s family crypto business have lost an estimated $4.7 billion, according to an analysis released Thursday by consumer advocacy watchdog Public Citizen.
The report examined five products: non-fungible tokens of Trump Digital Trading Cards; a meme coin that launched days before Trump’s inauguration; a governance token of World Liberty Financial, the stablecoin and trading platform co-founded by Trump and his three sons; a digital dollar stablecoin launched by WLF; and Trump Media’s digital-asset treasury.
Trump’s family is building an expanding crypto empire that has vastly increased the president’s overall wealth. Trump earned more than $1.1 billion from cryptocurrency in 2025, according to an annual financial disclosure released in June.
The majority of investor losses — roughly $3.2 billion, largely in unrealized losses — appeared to come from the Trump meme coin that decreased in value, according to Public Citizen.
Trending
“The earliest buyers were positioned for extraordinary gains; the far larger waves that bought during and after the surge were left holding tokens now worth a fraction of what they paid,” the report says.
Public Citizen estimated that WLF’s governance token cost investors nearly $1 billion in losses, followed by paper losses of roughly $450 million from Trump Media’s bitcoin business. The digital trading cards were estimated to have lost investors at least $9.3 million, and the dollar stablecoin has no projected losses, according to the report.
The White House and World Liberty Financial did not immediately respond to requests for comment on Public Citizen’s report.
White House counsel David Warrington has previously said that Trump has “no involvement in business deals that would implicate his constitutional responsibilities.” The White House has also maintained that Trump has no conflicts of interests.
Trump and his family launched WFL in September 2024 before quietly selling a 49% stake to a group backed by an Abu Dhabi royal. WFL has continued to financially benefit the Trump family through a complicated legal structure.
Author
