Millionaires Emerge as 764,000 Investors Lose in Trump Coin Frenzy

Just 58 cryptocurrency wallets have reaped a staggering $1.1 billion in profits from President Donald Trump’s $TRUMP meme coin, while a vast pool of 764,000 smaller investors have lost money, according to bombshell blockchain analysis released Tuesday. The findings, detailed in a report by analytics firm Chainalysis obtained by CNBC, expose dramatic wealth disparities in what has become the most controversial presidential business venture in modern history.

The stark profit concentration comes as the White House prepares to host top token holders at an exclusive May 22 dinner at Trump National Golf Club, where the 25 largest wallet addresses will receive VIP treatment including a private reception with the president and White House tour. The dinner announcement triggered a 50% price surge in the token, further enriching the already-profitable large holders.

Major Wallets Profit as Small Investors Face Losses

The blockchain data reveals a financial pattern that resembles a classic pyramid structure, with roughly 2 million total wallets having purchased the token since January’s launch. While 58 wallets amassed eight-figure profits, hundreds of thousands of smaller investors have watched their holdings diminish as the token’s price plummeted from its $78 peak to around $17 today.

“That coin is a joke,” wrote one disillusioned Trump supporter who lost money on the investment, in a social media post highlighted by Rolling Stone. The sentiment reflects mounting frustration among the president’s supporters who invested in the token only to see its value crater. Even cryptocurrency insiders have raised alarms, with finance professor Leonard Kostovetsky telling Fortune the tokens are “pure bubbles” without underlying value.

The analysis comes after weeks of social media speculation about who controls the most profitable wallets, with some blockchain investigators suggesting connections to major cryptocurrency trading firms with the technical capabilities to purchase tokens within minutes of the initial launch announcement.

“Pay-to-Play” Concerns Intensify in Washington

The upcoming dinner for token holders has ignited fierce debate in the capital, with lawmakers from both parties questioning the ethics of offering presidential access based on investment size. The dinner promotion’s immediate effect on token prices has intensified scrutiny of the president’s business relationships.

“This is my president that we’re talking about, but I am willing to say that this gives me pause,” Republican Senator Cynthia Lummis of Wyoming told NBC News, in a striking rebuke from one of the president’s staunchest allies and the Senate’s leading cryptocurrency advocate. Her concerns have been echoed by other Republican senators, indicating unusual bipartisan unease over the venture.

Democratic Senators Adam Schiff and Elizabeth Warren have gone further, formally requesting an ethics investigation into whether the dinner constitutes “pay-to-play” corruption. Their letter to government ethics officials, reported by CNBC, highlighted concerns that the dinner creates a direct pathway for buying presidential access.

Token Structure Raises National Security Questions

The ownership structure of the $TRUMP token has become central to congressional inquiries. According to the token’s website, two entities linked to the Trump Organization — Fight Fight Fight LLC and CIC Digital LLC — control 80% of the token’s supply, with only 20% currently in circulation, as detailed on Wikipedia.

This arrangement has allowed insiders to earn substantial revenue even without selling their tokens. Chainalysis estimates that more than $324 million in trading fees have been routed to project creators’ wallets since January, with the token’s code automatically directing a percentage of each transaction to these addresses.

Several lawmakers have raised national security concerns about the token’s anonymous purchase structure. Senator Elizabeth Warren and Representative Jake Auchincloss warned in official correspondence that “anyone, including the leaders of hostile nations, can covertly buy these coins,” potentially creating undisclosed foreign influence channels, according to Senate Banking Committee documents.

The Senate’s Permanent Subcommittee on Investigations has launched a formal probe into the token’s ownership structure and revenue model, with preliminary findings expected before the controversial May 22 dinner. Early reports indicate investigators are focusing on whether foreign entities could use token purchases to curry favor with the administration without triggering standard disclosure requirements.