About 764,000 wallets that purchased Donald Trump’s Trump meme coins have lost money for investment, according to fresh data shared with CNBC by Blockchain Analytics Firm Chainalysis.
According to the company’s on-chain analysis, most of the wallets that lost money kept small amounts of tokens. A crypto wallet is an account that stores the keys necessary to access and use cryptocurrency holdings.
Chain Orisys has earned over $10 million each, earning about $1.1 billion in total, while around 2 million wallets have purchased it into tokens.
After being tied to the start of Trump’s second period, $Trump Token has seen sharp price fluctuations and extremely uneven returns for investors. Fight Fight Fight LLC. CIC Digital LLC. controls most of the supply of tokens.
CNBC reached out for the battle LLC. Comments on the number of chain melts.
Interest in the coin surged over 50% after the project’s website promised top 220 owners a seat for a black tie option dinner with the president.
The $Trump event, set for May 22, is set for President of Trump National Golf Club in Washington, DC, and includes a reception for 25 wallets with the largest coin balance along with the White House tour.
The dinner rally pushed the token’s market capitalization to $2.7 billion at its peak, but has since been pulled back to about $2.17 billion.
Since that rally, around 54,000 wallets have purchased coins. A total of 100,000 new wallets have been buying $Trump since April 15, and the chain breakdown said it has extended the surge since the announcement, despite continued volatility in the broader crypto market.
Trump-branded meme tokens have elicited scrutiny from regulators and ethics watchdogs.
Lawmakers are now officially investigating whether Trump meme coins and related crypto ventures called World Liberty Financial, which send 75% of their revenues to the Trump family, are a direct conflict of interest to the president.
The Senate’s permanent subcommittee on the investigation has launched an investigation into the token’s ownership structure and revenue model, but House Democrats were kicked out of a protested crypto hearing.
At the heart of the controversy is the dinner competition for top token holders, promotional posts from the president himself, and relationships with foreign investors, including the state-backed Emirati Fund and Crypto Mogul Justinsan.
The value of the token, which began in January ahead of Trump’s second inauguration, initially surged to $15 billion after a series of promotional posts from the Truth and President X.
Currently, only 20% of the total supply of tokens is in circulation. The remaining 80% — reportedly managed by Trump’s organization and related entities — is locked under a three-year vesting schedule. According to public disclosures, insiders say they agreed not to sell the allocation for several more months.
Even if their tokens are under vesting restrictions, insiders are earning substantial revenue.
More than $324 million in transaction fees have been routed since January into wallets tied to the creators of the project, according to Chainalysis. The token code automatically instructs these addresses to cut each transaction, allowing the team to benefit from ongoing activities.
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