Consumer advocacy group Public Citizen published a report on August 27 estimating that five crypto products tied to President Donald Trump and his family have left investors at least $4.7 billion underwater combined, while Trump personally reported $1.4 billion in crypto-related income for 2025 in his most recent federal financial disclosure, filed in June.

The report, titled “‘Thin Air,’ Real Money,” is a critical examination of Trump’s crypto business by a nonprofit that has previously opposed his administration’s policies, and its estimates rely on a mix of blockchain analytics, court filings and Trump’s own disclosures.

The estimated losses, by product: the $TRUMP meme coin accounts for the largest share, with Public Citizen…