A report on the first 19 days of the $TRUMP meme coin found that 813,294 on-chain wallets were in loss, with aggregate losses estimated at about $2 billion. That is a dated count of wallets—not proof that 810,000 people lost money. A separate estimate put trading fees owed to entities behind the coin at roughly $100 million; it does not establish how much Donald Trump personally earned.
What the 810,000 figure measures
Fortune reported that a Chainalysis analysis commissioned by The New York Times found 813,294 wallets in loss during the first 19 days after $TRUMP launched in January 2025. The analysis put aggregate losses for that period at approximately $2 billion. The widely repeated “810,000” is a rounded version of that historical wallet count, not a count of verified individual people. Fortune’s report attributes the analysis to Chainalysis and its commissioning by the Times.
A wallet is an on-chain address or account. One person can control multiple addresses, and an address may not be attributable to a known person. So the finding supports “813,294 wallets were reported in loss,” not “813,294 people lost money.”
What “in loss” does—and does not—tell you
A wallet can hold tokens whose market value is below an estimate of what was paid for them without having sold those tokens. That is a paper, or unrealized, loss. A realized loss generally means selling for less than the relevant cost basis. The surfaced coverage does not establish precisely how the analysis treated realized versus unrealized outcomes, transfers, fees, or current holdings, so the $2 billion figure should be described as the report’s aggregate loss estimate—not as a confirmed total of cash losses.
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Did Trump personally make $100 million?
No published figure in this reporting establishes that Trump personally received $100 million. Fortune described an estimate of roughly $100 million in trading fees owed to entities behind the token, based on analyses attributed to Merkle Science and Chainalysis. Fees owed to associated entities are not the same as money personally distributed to Trump, and neither fees nor revenue automatically equal net profit after costs. The reporting’s fee estimate therefore supports careful phrasing about entities and estimated fees, not a claim about Trump’s personal earnings.
How the different $TRUMP loss reports compare
| Report | Period and group measured | Reported result | How to interpret it |
|---|---|---|---|
| Chainalysis analysis commissioned by The New York Times, reported by Fortune | First 19 days after the January 2025 launch; wallets observed in the analysis | 813,294 wallets in loss; approximately $2 billion in aggregate losses | A dated early snapshot. The public coverage does not establish the exact accounting treatment of losses. |
| The Washington Post | More than 67,000 buyers who used MoonPay through a link from the official token site; holdings assessed through May 7, 2025 | Reported severe paper losses among some buyers | A selected payment-channel cohort and a later endpoint, not a count of all holders or a replication of the 19-day wallet total. |
| Nansen analysis, reported by TechCrunch | Accounts measured through June 30, 2026 | 988,905 accounts down a combined $3.8 billion | A longer-period estimate using a separately described account count; it should not be substituted for the early-2025 result. |
The Washington Post’s cohort is useful for understanding outcomes among a particular set of buyers, but it does not represent every $TRUMP holder. Its analysis and the 2025 early-window report differ in both cohort and endpoint. The Washington Post’s account describes the MoonPay-linked sample and the May 7 assessment date.
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The later Nansen estimate is larger because it covers a longer period and is a distinct analysis. TechCrunch reported that 988,905 accounts were down a combined $3.8 billion through the end of June 2026. That figure is not a revision of the first-19-days result: the period, unit, cohort, and accounting approach must be considered before comparing totals. TechCrunch’s report attributes the later figures to Nansen.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the issuer says about the token
The Official Trump website describes $TRUMP as a meme coin and says it carries no promise of utility, financial return, or ownership rights. That is the issuer’s own description and terms, not a court or regulator’s legal conclusion. The official token website is the source for that characterization.
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How to read claims about $TRUMP losses
- Check the date window. A first-19-days count and a total through June 2026 answer different questions.
- Check what is counted. Wallets or accounts are not automatically unique people.
- Check the cohort. A MoonPay-linked buyer sample is not the entire holder population.
- Check what “loss” means. Without clear methodology, do not assume the estimate counts only tokens sold at a loss.
- Separate financial measures. Estimated fees owed to entities do not establish personal income or net profit.
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