989,000 people lost 3.8 billion, the president earned 636 million: This is not an "investment failure," this is a "regulatory black hole"
989,000 wallets, with a total loss of 3.81 billion USD.
The same project, Trump-related entities recorded 636 million USD in revenue.
This is not the profit and loss of a free market. This is a 989,000 to 1 asymmetric game.
You lose money, he makes money. You get cut, he counts money. And—the one cutting you is the current U.S. president.
Rewind to January 17, 2025, three days before Trump's inauguration. The TRUMP token quietly launched.
At that time, the vast majority of retail investors were still scrolling their phones, reading news, completely unaware of what was happening. But on-chain data clearly shows—some traders completed their positions within the first second of the token launch. One trader named Naseem bought in at 1.09 million USD in the first second, paying 84,000 USD in priority transaction fees, ultimately profiting 109 million USD.
The next day, Trump publicly posted a call to buy on X.
By the time retail investors saw the tweet and rushed in, insiders were already counting their money.
This is not a conspiracy theory. This is the fact laid out by on-chain data.
The token price once surged to 73 USD, with a market cap soaring to 9 billion USD. Then what? A free fall all the way down.
Today, TRUMP price is under 1.5 USD, with a market cap of only 366 million USD. From peak to bottom, it dropped 98%. Those who bought at the high lost 97%.
Once a top three meme coin by market cap, it now can't even enter the top 100.
Senators Warren and Blumenthal, in a letter to the SEC, proposed a precise concept—"Soft Rug Pull."
What is a traditional Rug Pull? The project team runs away overnight, wallets emptied, people disappear.
But Trump's play is more advanced—not running away overnight, but boiling the frog slowly. The project hasn't disappeared, the team hasn't fled, but the price drops day by day, market cap shrinks bit by bit, support withdraws step by step. Retail investors hold on with the hope of "just a little longer," watching their accounts go from 50% loss to 80% loss to 97% loss.
This is not running away, this is a "soft run."
Not running, not disappearing, not illegal—but your money is gone.
On the other hand, Trump's financial disclosures show he earned over 1.4 billion USD from crypto-related businesses in 2025. Just the licensing income from TRUMP was 636 million USD. Trump Organization-related entities still hold 80% of the total token supply.
80% of the chips are in insiders' hands, 98% of retail investors are losing money.
Think about it, really think about it.
The biggest question now is not "Did Trump cut retail investors?"—the data is here, the facts are clear.
The biggest question is: Who will investigate?
SEC Chair Gary Gensler was personally appointed by Trump.
Letting the subordinate of the investigated person investigate their own boss—how is this different from letting a thief hold the safe's key?
The two senators wrote a harsh sentence in the letter: "The SEC must be willing to enforce the law, even if the potential violators include those with strong political connections."
That's what they say. But in reality? The SEC currently refuses to comment.
The president issues tokens, the president calls to buy, the president makes money, the president's subordinates decide whether to investigate.
This is not a failure of the crypto market. This is a failure of regulation.
989,000 people lost 3.8 billion USD, Trump earned 636 million.
If this is not fraud, then what is fraud?
If this is not investigated, then what is the purpose of the SEC?
When the president can issue tokens three days before inauguration, use social media to pump, let supporters take the bag, and earn 600 million himself—
This is not a free market. This is a 989,000 to 1 "asymmetric game."
$BTC$TRUMP$WLFI#特朗普代币遭参议员要求调查
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