Two Trump-branded companies aimed at retail buyers find themselves in difficult positions months after their debut, although for different reasons.
About 600,000 buyers have paid $100 deposits for the gold-colored Trump Mobile T1 phone since its initial announcement, investing about $60 million in a company that hasn’t delivered a single confirmed device as of May 2026, according to Moneywise.
The deposits were paid to Trump Mobile’s registered company, T1 Mobile LLC, using a limited liability agreement of DTTM Operations, LLC, the company that manages the intellectual property, trademarks and merchandise images associated with US President Donald Trump.
Wow, those Gold Trump phones that 590,000 people paid a $100 deposit for haven’t been delivered yet after they were told they would be in September, so NBC, who bought one, tried calling the company and there’s no phone number, just an email. They asked if they could get a refund and were told NO! 😂 pic.twitter.com/EucWcjyorm
-Suzie Rizzio (@Suzierizzo1) November 26, 2025
Promised delivery dates moved from late summer 2025 to November, then December, and finally Q1 2026, before being removed from the website entirely.
According to a report by IBTimes, the company updated its terms of service in April to clarify that deposits represent a “conditional opportunity” to purchase the device if the company decides to sell it, removing any binding contract. (CoinDesk has not independently reviewed the above version of the terms.)
Trump Mobile did not respond to an emailed request for comment at the time of this publication.
The TRUMP memecoin, a separately structured company, has had its own rough patch. The token launched in January 2025 at $1.21, rose to $73 in 48 hours as retail speculators piled in around the launch, and has been down for 16 months.
TRUMP traded at $2.45 on Monday, down about 97% from its high and down 82% on the year, CoinGecko data shows. Chainalysis estimated that retail investors in TRUMP have collectively lost approximately $2 billion since its introduction.
TRUMP launched with 80% of the supply held by Trump-affiliated entities CIC Digital and Fight Fight Fight, and those tokens are scheduled to unlock at a value of approximately $500,000 per day (at current prices) through mid-2028. The schedule was revealed as part of the token’s launch terms, but has produced sustained supply on the sell-side during a period of declining buyer interest.
TRUMP’s daily DEX trading volume has fallen from a Jan. 20, 2025 high of nearly $7 billion across roughly 400,000 traders to roughly $16 million across just 4,200 traders on May 5, 2026, according to Dune Analytics data tracked by user @seoul.
This represents a 99% drop in both daily turnover and unique daily participants. The average trade size has fallen from around $2,700 to $260 over the same period, suggesting that the remaining buyers are smaller retail accounts rather than the larger scalpers who fueled the original launch.
The proportion of TRUMP holders with more than $1,000 worth of the token has plummeted from about 19% at launch to about 2% today, meaning almost all remaining wallets now hold less than $1,000 worth of TRUMP. The token has effectively settled into a long tail of small bag holders with no large position holders left to drive significant price action.
For TRUMP holders, on-chain math suggests a return to launch-era valuations is increasingly unlikely. At current prices, the remaining unlocked internal tokens represent more than $2.5 billion in potential oversupply.
Absorbing that supply would require a demand event larger than anything the token has seen since its launch, with the token falling 13.6% over the past 30 days and about 0.1% on the day.
A dinner hosted by Trump for the top 220 token holders at his Virginia golf club in May 2025 produced a rally that fizzled out within weeks. Tron founder Justin Sun pledged $100 million in TRUMP purchases ahead of the July 2025 unlock, and the token continued to decline in the following months.
A separate Mar-a-Lago Crypto & Business conference on April 25, 2026, limited to the top 297 TRUMP token holders with VIP access for the top 29, obtained a letter from Senators Warren, Adam Schiff (D, California), and Richard Blumenthal (D, Connecticut) requesting documents regarding the president’s role in promoting the event.
While Trump and Mobile tokens have different structures and mechanisms, they debuted on the back of intense political enthusiasm and have struggled in the months since to translate that initial momentum into delivered products or sustained price support.
