Public Citizen Report: Trump's Crypto Ventures Left Investors $4.7B in Losses
A new report from Public Citizen reveals that while World Liberty Financial's USD1 stablecoin investors escaped significant harm, billions were lost across other Trump-affiliated cryptocurrency projects.
Public Citizen, a nonprofit organization dedicated to consumer advocacy, has released a report stating that US President Donald Trump "left investors at least an estimated $4.7 billion underwater" beginning in 2022 through various digital asset projects associated with him and his family members.
The report from Public Citizen details how investors experienced losses totaling billions of dollars across multiple ventures, including the Trump family's World Liberty Financial governance token, the nonfungible token (NFT) trading cards the president introduced in 2022, his Official Trump (TRUMP) memecoin, and the digital asset treasury holdings of Trump Media.
The organization's analysis indicates that the majority of estimated losses stemmed from those who invested in the TRUMP memecoin, totaling $3.2 billion in losses, whereas purchasers of World Liberty Financial's USD1 stablecoin "haven't suffered major losses." In the case of the memecoin, Public Citizen characterized the losses as "wealth transferred to a small group of early buyers rather than money that simply vanished."
The Public Citizen report indicates that while investors absorbed $4.7 billion in losses, Trump personally generated $7.2 million through NFT licensing fees and royalties, over $600 million from the sale of World Liberty tokens and an equity stake, $635 million through licensing fees for his memecoin, and $197 million in revenue from capital contributions made to World Liberty. These figures do not account for his ongoing ownership stakes in various companies and ventures. A portion of these figures appeared in the president's 2025 financial disclosures, which documented $1.4 billion in crypto-related earnings.
The White House was contacted by Cointelegraph for a statement but had not provided a response at the time of publication. In previous instances when questioned about Trump's cryptocurrency investments, spokesperson Anna Kelly has consistently stated that there were "no conflicts of interest."
Crypto bill still weeks away from potential vote
With the crypto ventures continuing and more "potentially on the way" from Trump, Public Citizen has issued renewed appeals for the inclusion of ethics provisions in cryptocurrency market structure legislation, specifically the Digital Asset Market Clarity (CLARITY) Act, asserting that "the president's policy choices and personal portfolio cannot be separated" and that any such legislation should mandate that a US president and family members divest from industry-related projects.
Last week, Trump held meetings with executives from cryptocurrency companies, advocating for a "fair version" of the CLARITY Act to be passed after the Senate reconvenes next month. A cloture vote on the bill has been scheduled for Sept. 15, requiring at least 60 senators to vote in favor for the legislation to move forward.