Trump Supporters Face Losses on Gold Phone and Memecoin Bets
Trump has extended his personal brand into telecommunications and crypto. Trump Mobile took preorders for its gold-colored T1 phone, while Fight Fight Fight LLC launched the official TRUMP memecoin. Issued at $1.21 in January 2025, the token surged to $73 within 48 hours. Both ventures drew bets from supporters, underscoring that celebrity appeal is no substitute for product delivery or asset fundamentals.
By May 2026, about 600,000 buyers had each paid $100, bringing T1 phone deposits to roughly $60 million, but no deliveries had been confirmed. Trump Mobile said on May 14 that shipments would begin the following week. TRUMP traded at $2.45 on May 11, down about 97% from its peak, while Chainalysis estimated that retail investors had lost roughly $2 billion in total. The token fell another 5% on May 14.
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The history behind this eventTrump’s Official Memecoin Holders Lose More Than $3.8 Billion
Trump launched his official TRUMP memecoin on January 17, 2025, three days before his second inauguration. Such tokens have little practical utility and rely heavily on celebrity exposure for their value. A sitting US president issuing one under his personal brand has also raised concerns over investment risks, conflicts of interest and the disparity in returns between retail investors and large early holders.
A recent report from blockchain analytics firm Nansen showed that, as of the end of June 2026, 988,905 of roughly 1.48 million buyer wallets — about two-thirds — were in the red, with combined losses of $3.81 billion. Fewer than 500,000 profitable holders earned a combined $4 billion, highlighting a divide in which a small group of early buyers reaped outsized gains while most retail investors absorbed losses as the token’s price fell.
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