Trump Memecoin Wallets Down $3.81B

Venice AI's Privacy Focused Model | Aave's Monad Market Tops $100M

Marco Manoppo & Karon Pangestu
July 06, 2026

📢Sponsor | 💡Telegram | 📰Past Editions

Good Morning,

New data from Nansen reveals Trump's official memecoin has quietly become a wealth transfer machine, generating a $636M royalty payout for the President while nearly a million retail wallets that bought the token are sitting on a combined $3.81B in realized and paper losses.

Check out our latest podcast episode!

In Today's Email:

What Matters: Trump Memecoin Wallets Down $3.81B 👀
Product of the Week: Venice AI's Privacy Focused Model 🤖
Charts: Aave's Monad Market Tops $100M 📊

You read and share. We listen and improve. Send us feedback at marco@launchy.app.

Narratives: Retail Left Holding

For daily market updates and airdrop alphas, check out our telegram!

WHAT MATTERS

Trump Memecoin Wallets Down $3.81B

State of play: Nearly 1 million wallets that bought Trump's official memecoin have lost a combined $3.81B since its January 2025 launch, per Nansen data reported by The New York Times.

About 988,905 of 1.48M wallets are underwater, while TRUMP trades near $1.78, down 97% from its peak.
Gains are concentrated among early buyers, with 492,285 wallets up a combined $4.04B.
Net gains across all wallets total about $236M, far below the $636M payout Trump reported from the token.
WLFI, the Trump family's DeFi governance token, shows 85% of tracked secondary buyers at a loss.
The findings arrive as Congress debates the CLARITY Act, with Democrats pushing ethics provisions on official crypto dealings.

Why it matters: Trump's memecoin has generated far more wealth for the President than for retail buyers, intensifying scrutiny as Congress debates crypto ethics rules.

Our take: The $636M payout dwarfing the $236M net gain shows retail subsidized presidential royalties while absorbing the downside. Gillibrand's proposal to bar officials from issuing tokens looks like a direct response to this.

For builders and investors: The 97% drawdown from peak underscores extreme concentration risk in political memecoins, with early insiders capturing nearly all the upside.

PRODUCT OF THE WEEK

Venice AI's Privacy Focused Model

Venice AI is a privacy focused, uncensored AI platform founded by Erik Voorhees, giving users and agents access to 200+ models without storing prompts or charging per request, monetized through its VVV token and a recent $65M Series A at a $1B valuation.

VVV has 100M tokens at genesis with 14M emitted annually, an inflation rate that starts at 14% and declines.
Half the supply was airdropped to users and crypto AI communities, with no presale conducted.
Staking VVV grants a pro-rata share of daily inference capacity measured in "Diem," letting stakers use AI for free while earning yield.
Token value scales with Venice's growing compute capacity, and the company burns VVV using a portion of revenue.
The token has no governance function and is purely built around utility and staking yield.

Other cool products:

Hfun Labs launched bet.hypurr.fun.
Open Standard launched Open USD.
Robinhood Chain launched on mainnet.
Aegis launches fixed-rate BTC borrowing.
Robinhood Earn launches to eligible US customers.

Take a peek at our referral reward at the bottom of this issue. Share this newsletter and receive our list of 500 crypto VC individuals 👇

CHARTS OF THE WEEK

Aave's Monad Market Tops $100M

State of play: Aave's newly launched Monad market surpassed $100M in deposits within two days of going live, driven by heavy incentives from the Monad Foundation.

Monad received Aave V3.7, with 12 supported assets including USDT0, USDC, GHO, WETH, and cbBTC.
The Monad Foundation committed $15M in first year incentives and pledged to hold 10M GHO to seed the deployment.
Inflows equal more than a quarter of Monad's entire $359.5M network TVL as of June 8.
Aave's V4 deployment separately crossed $250M in deposits on Saturday, a new all time high.
The next phase on Monad is expected to add Pendle PT assets and Fastlane's shMON liquid staking token.

Our Take: The heavy subsidies do most of the heavy lifting here, $15M in incentives plus 10.5M GHO in seeded liquidity means this looks more like paid growth than organic demand validation.

Bitcoin ETFs Post Record Outflow Streak

State of play: US spot bitcoin ETFs shed about $527M over the holiday shortened week, marking an eighth straight negative week and the longest outflow run on record.

Thursday's $221.72M inflow snapped a 10 session outflow streak that had drained $2.71B.
BlackRock's IBIT extended its own losing run to 11 days, losing $40.43M and $2.2B cumulatively.
Spot ether ETFs lost a net $13.7M, an eighth straight weekly outflow tying their record.
Hyperliquid ETFs took in just $4.3M, their smallest week since launching in May.
Bitcoin traded near $63,150 after dipping below $58,000 to a 21 month low earlier in the week.

Our take: IBIT's 11 day redemption streak stands out most, the flagship product bleeding while smaller funds like FBTC and ARKB lead inflows suggests investor confidence is rotating away from BlackRock specifically, not just cooling on bitcoin broadly.

QUICK BITES

DeFi protocol Summer Finance exploited for $6M.
Bitcoin ETFs log record eighth straight negative week.
Ripple secures full MiCA CASP authorization for crypto services.
Nearly 1 million wallets are down $3.81B on Trump's memecoin.
Aave's new Monad market tops $100M in deposits two days after launch.
S.Korea develops crypto-specific procedures for asset seizures and liquidation.
Bernstein holds 'ambitious' $150K year-end BTC target despite 54% drawdown.

NOTEWORTHY READS & MEME

Vitalik’s read on The Extremely Lean Chain.
septiembre_eth’s read on Ethereum’s most ambitious plan ever.
Bmoney’s read on The Biggest Moat in Crypto Cards Isn't Cashback.

— (@)

If you enjoy reading this issue, please consider subscribing. It takes 1 minute of your time, but it would mean the world to us 🙇

Disclaimer: All the information presented in this publication and its affiliates is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, or any other form of advice.