A Reuters investigation alleges the Trump family has pulled roughly $2.3 billion from four high-profile crypto ventures — while investors in those same projects have seen about $2.3 billion in losses (including unrealized, or "paper," losses) through the end of April.
Here’s a clear breakdown of Reuters’ findings and how the outlet reached its estimates.
Headline numbers
- Reuters estimates the Trump family’s crypto proceeds at about $2.3 billion in total.
- The investigation also estimates investor losses across the projects at roughly $2.3 billion (including unrealized losses) as of April 30.
World Liberty Financial (WLFI)
- World Liberty disclosed raising $1.4 billion by selling 30 billion WLFI tokens.
- Reuters says those sales yielded roughly $987 million to the Trump family, but argues the family’s take may be larger.
- In an October 2025 filing tied to European crypto rules, World Liberty reportedly disclosed holding 3 billion fewer tokens than it had previously stated publicly. Reuters used weighted-average token prices for the relevant period and estimates those 3 billion tokens, if sold, would have brought at least $460 million — which would push Trump-family proceeds from WLFI token sales above $1.4 billion.
- Reuters also reports other flows tied to partners and buyers: ALT5 Sigma bought $717 million of WLFI tokens (in a deal that allegedly sent more than $500 million to the Trump family), and mining firm Hut 8 Corp bought $25 million of WLFI tokens shortly after launch (about $19 million allegedly went to the Trump family).
The TRUMP “memecoin”
- For the President’s official memecoin (TRUMP), Reuters traced on-chain movements to exchanges and market listings. The outlet and several cited experts treat transfers to exchanges as strong evidence of sales.
- Using weighted-average prices for the windows when coins moved to exchanges, Reuters estimates those potential sales raised more than $880 million; including other sales channels, Reuters puts total TRUMP-related revenue at about $1.2 billion.
- Reuters says buyers spent at least $1.2 billion on TRUMP tokens at prices up to $75.35. With the April 30 market price at $2.38, the holdings were worth approximately $521 million — implying more than $700 million in losses for TRUMP buyers.
ALT5 Sigma and American Bitcoin (public companies)
- ALT5 Sigma was transformed into a crypto acquisition vehicle and reportedly worked with World Liberty to buy WLFI tokens.
- Reuters reports ALT5 disclosed how many shares and proceeds through March 2026; since August, ALT5’s share price fell sharply, leaving investors down about $675 million.
- American Bitcoin’s stock reportedly slid from about $11 to $1.15 by the end of April after a multi-month decline, leaving investors down more than $200 million.
Individual holdings and other flows
- Reuters reports Eric Trump’s stake was worth over $70 million at the end of April. The value of Donald Trump Jr.’s stake was not disclosed in the report.
- The investigation also highlights other token flows and partner purchases that routed significant sums to the Trump family.
How Reuters estimated losses
- To estimate investor losses, Reuters compared what initial buyers paid for TRUMP and WLFI tokens and for new shares in ALT5 Sigma and American Bitcoin against market values at the end of April.
- For early WLFI governance buyers, Reuters notes initial prices were either $1.50 or $0.50 per token; early buyers may have realized gains on tokens they were permitted to sell, but many were contractually restricted from selling 80% of their holdings. Tokens bought after exchange listings also fell in price. Reuters estimates aggregate losses for World Liberty token investors at about $674 million.
Methodology and caveats
- Reuters’ accounting combines on-chain tracing, public filings, exchange price data and weighted average price calculations during targeted selling windows. The outlet relied on finance and computing academics, a law professor and an industry analyst to interpret blockchain movements and to treat transfers to exchanges as likely sales.
- These are findings from an investigative report and rely on assumptions (for example, that transfers to exchanges equate to sales) and on company disclosures and filings. Reuters frames its conclusions as the outcome of that analysis.
Bottom line
- Reuters’ investigation presents a scenario where the Trump family reportedly realized about $2.3 billion from four crypto ventures, while investors in the same projects faced roughly $2.3 billion in losses by late April. World Liberty Financial and the TRUMP memecoin account for the largest portions of the alleged proceeds and investor losses.
Image credits: featured image created with OpenArt; chart referenced from TradingView.com.
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