Since its launch in mid-January, the official meme coin of US President Trump, the Trump coin, has dropped from its high of $76 to around $17. The decline was nearly 80%.

This lightning decline means that many investors are forced to be trapped. According to reports compiled by blockchain analysis firm Chainalysis and the New York Times, the decline in Trump currency caused losses to 810,000 investors, with a total loss of more than $2 billion.

Unlike these investors who lost heavily, early traders and insiders of Trump coins were estimated to make a net profit of $6.6 billion. Chainalysis added that about less than 700,000 traders profited from trading on Trump coins.

Another analysis company Nansen pointed out that most of the early profiters of Trump coins were large buyers, with 31 of them in a few days Within this case, I made $669 million. Most of the people who lose money in the later stage are retail investors.

In the first few minutes of starting trading, a crypto wallet with identification code of 6QSc2Cx received a large number of new tokens at an opening price of 18 cents per piece , a total of 5971,750 pieces were collected. The price of this batch of meme coins then soared, quickly reaching $75 per coin.

In addition, the Trump currency was created 12 hours before Trump announced the news, which also provides plenty of preparation time for insiders .

In addition to these early large investors, the Trump family is the party that benefits the most on the surface. According to Chainalysis data, nearly $100 million in transaction fees flowed to the Trump family and their partners, but most of the proceeds have not been fulfilled.

For some pairs of meme coinsFor cautious regulators and analysts, the huge volatility of Trump's currency is undoubtedly very worrying.

Corey Frayer, a former cryptocurrency adviser at the U.S. Securities and Exchange Commission, said Trump is involved in cryptocurrency programs that harm investors' interests; at the same time, he appointed Financial regulators will revoke protections for victims and may keep him and his family from regulation.