benzinga.com
03 July 2026 05:19, UTC
Veteran investor Ross Gerber highlighted on Thursday a report revealing that more than one million people lost money while President Donald Trump made a fortune from those same ventures.
The report also stated that 85% of secondary-market buyers of World Liberty Financial’s token remain underwater.
“Over 1 million people lost money on the trump crypto rug pull,” said the CEO of Gerber Kawasaki Wealth and Investment Management.
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Note that there’s no direct one-to-one match between cryptocurrency wallets and actual holders. A single individual can create dozens or even hundreds of distinct wallets, while a single wallet address can represent multiple holders.
The $TRUMP memecoin reached a market capitalization of nearly $15 billion shortly after its launch in January 2025, before collapsing by 97% to $408 million at the time of writing.
The interesting part is that Trump from the same cryptocurrency last year, according to his latest financial disclosure.
The revelation sparked massive backlash from the opposition as well as from people who supported Trump’s pro-cryptocurrency stance.
Trump defended his , asserting there was nothing "illegal" or "wrong" about it. He emphasized that cryptocurrency is a "big deal," and the U.S. must lead in the space or risk ceding dominance to China.
Price Action: At the time of writing, $TRUMP was exchanging hands at $1.71, up 1.97% in the last 24 hours, according to data from Benzinga Pro.
Photo: Rawpixel.com / Shutterstock.com
