TRUMP trades near $1.79 today, down about 96% from its peak. Its market value is $425 million, against nearly $15 billion at the January 2025 high. Of the 722,000 wallets still holding the token, positions are worth $465 million combined. Since launch, about $71 billion in value has moved through the token.

Trump, who once was a crypto critic, embraced the technology during the 2024 campaign trail before his return to the White House, promising to make the U.S. the crypto capital of the world. Since then, he has unapologetically maintained his crypto ties even as he and his appointees have steered the federal government toward embracing the industry.

Recently, Trump has said there is nothing wrong with the income he made from his…