Chainalysis: ~2M wallets have bought President Trump's $TRUMP memecoin, of which ~764K have lost money and 58 have made $10M+ each, totaling ~$1.1B in gains
While 764,000 Lost Money: Report Nidhi Kolhapur / Coinpedia Fintech News : Only 58 Wallets Profit From $TRUMP, 762K Others Record Losses Richard Blumenthal : Permanent Subcommittee on Investigations Opens Inquiry into Trump Crypto Corruption Financial Times : Analysis: 24 crypto wallets earned $99.6M by buying the $MELANIA memecoin in the two and a half minutes before Melania Trump posted about the coin on January 19 Bluesky: Ed Moltzen / @emoltzen : We're in a place where the government is grabbing $75-a-day laborers off the streets and sending them to Salvadoran death camps, but also high-fiving crypto con artists after they rip off billions from middle-class families. Carl Quintanilla / @carlquintanilla : Number of crypto wallets that made money on Trump's memecoin: 58. — Number that lost money: 764,000. — @cnbc.com @mackenziesigalos.bsky.social — www.cnbc.com/2025/05/06/t... Eliot Higgins / @eliothiggins : 764,000 fools easily parted from their money - 58 crypto wallets have made millions on Trump's meme coin. 764,000 have lost money, data shows www.cnbc.com/2025/05/06/t... @proudlyblue : 764,000 deeply dark deplorable highly dopey MAGATs getting instantly screwed by a two-bit NYC conman rapist felon is music to my ears. — Do I care about those gullible MAGAT souls? F NO! — www.cnbc.com/2025/05/06/t... @ihatetrump4ever : 58 crypto wallets have made millions on Trump's meme coin. 764,000 have lost money — I wonder how many were named Trump — #News #News&Politcs @kolchak : These have zero utility beyond funneling money to the president. This is a monumental level of corruption, even for him. — Chuck Schumer's next angry letter will probably out a stop to it, though. www.cnbc.com/2025/05/06/t... Frida Ghitis / @fridaghitis : Trump's crypto venture is not just an appalling case of corruption. It's also a horrible investment — unless your only aim is to bribe the president in exchange for access. — So far 58 people have made millions, 764,000 have lost. — www.cnbc.com/2025/05/06/t... Ray Douglas / @raydouglas : A small group of traders made nearly $100mn by buying Melania Trump's memecoin just minutes before it was announced. — FT analysis by Eade Hemingway, @olihawkins.com, @chriscook.news and Paul Caruana Galizia, showed they moved early and sold fast — www.ft.com/content/f579... [image] LinkedIn: Rebecca Patterson : The US' innovative culture is one of our country's economic strengths. Fintech, including crypto, is part of that. … Forums: r/QuiverQuantitative : 58 crypto wallets have made millions on Trump's meme coin. 764,000 have lost money, data shows r/Buttcoin : 58 crypto wallets have made millions on Trump's meme coin. 764,000 have lost money, data shows r/skeptic : 58 crypto wallets have made millions on Trump's meme coin. 764,000 have lost money, data shows r/LeopardsAteMyFace : 58 crypto wallets have made millions on Trump's meme coin. 764,000 have lost money, data shows r/politics : 58 crypto wallets have made millions on Trump's meme coin. 764,000 have lost money, data shows r/DeFranco : 58 crypto wallets have made millions on Trump's meme coin. 764,000 have lost money, data shows r/NoShitSherlock : 58 crypto wallets have made millions on Trump's meme coin. 764,000 have lost money, data shows
Context & Ripple Effects
$TRUMP's rapid early appreciation, including a more-than-600% overnight rise, established the conditions for a large and highly volatile retail trading event. A later market-cap ranking also showed how quickly the token had become a prominent crypto asset despite criticism of its optics.
Chainalysis had already identified a wide split between winning and losing wallets in an earlier wallet-profit tally. This update adds a sharper measure of concentration: a very small set of wallets captured billion-dollar-scale gains while hundreds of thousands were underwater.
First-order effects
- The report publicly quantifies the uneven outcome for $TRUMP holders: roughly 764,000 wallets lost money, while 58 wallets cleared at least $10 million each and together realized about $1.1 billion.
- For $TRUMP buyers and observers, wallet-level data shifts attention from the token's headline popularity to the distribution of realized returns, especially among large winners.
Second-order effects
- The concentration of gains strengthens the case for treating $TRUMP as a high-risk, winner-take-most trading product rather than a broad-based investment opportunity, potentially affecting how new buyers assess similar launches.
- It adds evidence to the crypto sector's legitimacy debate: rapid price appreciation can draw retail participation even when the eventual gains are concentrated among a small number of wallets.
Third-order effects
- If comparable wallet distributions persist across celebrity- and political-branded tokens, disclosure of holder concentration and realized gains could become a more central test of market integrity than market capitalization alone.
- The pattern points to a continuing divide between the accessibility of token trading and the ability of late or smaller participants to capture returns—a tension likely to sustain scrutiny of crypto's consumer-facing legitimacy.
The trend: Political and celebrity memecoins are becoming a visible example of crypto markets where viral distribution can coexist with highly concentrated realized profits.