Entities behind President Donald Trump’s crypto coin have accumulated close to $100 million in trading fees in less than two weeks, according to estimates from three blockchain analysis firms, a large windfall from a venture that has seen tens of thousands of small traders lose money.

The new Solana-based meme coin launched by President Donald Trump earlier this month has already dipped in terms of trading volume and racked up more than $11 million in fees for traders. In the last 24 hours,

President Donald Trump promised crypto investors he’d usher in an era of legitimacy for an industry that’s long been relegated to the financial wilderness — dismissed by some mainstream investors as an highly speculative bet at best or an elaborate Ponzi scheme at worst.

The $TRUMP token refused to climb even after U.S. President Donald Trump said he loves the meme coin, triggering criticism from some users on X amid dwindling social media interest in the crypto coin.