Do you remember Trump's T1 phone? It took in 60 million dollars in deposits, but delivery is still nowhere in sight.

The Donald Trump brand project is in trouble. T1 Mobile collected $60 million but failed to deliver, and the Trump coin has crashed by more than 90%, leaving retail investors with losses of $2 billion—reflecting a market crisis after political hype.

As political hype cools, two major brand projects face severe challenges

Two Donald Trump (Donald Trump) brand projects launched for retail investors both ran into difficulties after debuting for several months. The two projects were a physical phone and a meme coin. In their early stages, both leveraged the market’s political frenzy surrounding Donald Trump to attract large amounts of capital and attention. Over time, they encountered a bind in ongoing operations—unable to convert the initial market momentum into actual product delivery or sustained investor demand.

Sixty million dollars in deposits sink without a trace, T1 phone delivery remains far off

Since its release, the gold-colored Trump Mobile T1 phone has collected a deposit of $100 from about 600,000 buyers, totaling as much as $60 million. More than 16 months after the project launched, as of May 2026, the official has still not delivered any confirmed devices to any buyers. These deposits were paid to the registered company T1 Mobile LLC, which manages Trump-related intellectual property and trademarks through a limited liability agreement with DTTM Operations, LLC.

• Related news: Trump Phone T1 debuts! Foreign media criticize: Image P-ed, heavily plagiarized—basically a Chinese knockoff

The official promised delivery dates have been repeatedly delayed—pushed from late summer 2025 to November and December, then to the first quarter of 2026—before being removed entirely from the official website. The International Financial Times reported that in April the company amended its terms of service, redefining the deposit as a “conditional opportunity” to purchase the phone. It explicitly states that the company has no contractual obligation to deliver devices, does not guarantee that devices will be provided in the future, and offers no refund mechanism.

Trump coin’s myth collapses; retail frenzy evaporates by more than $2 billion

The meme coin that operates independently of the phone project, Trump coin ($TRUMP), also suffered a brutal selloff and market shakeout. The token was issued in January 2025 at $1.21. As retail speculators poured in during the presidential inauguration, the price surged to $73 within just 48 hours. It then entered a long period of decline over the following 16 months. According to CoinGecko data, Trump coin’s trading price is now only $2.45—down about 91.7% from its historical peak, with an annual decline of 82%.

Image source: CoinGecko. Trump coin’s trading price is now only $2.45, down about 91.7% from its historical high.

Blockchain analytics firm Chainalysis estimates that since issuance, retail investors’ collective losses on Trump coin have reached roughly $2 billion. Trump coin’s daily trading volume on DEX fell from nearly $7 billion on January 20, 2025—with about 400,000 traders participating—down to $16 million and 4,200 traders. Both daily trading volume and the number of unique participants saw a 99% decline. The average transaction size shrank from about $2,700 to $260, and the share of wallets holding more than $1,000 worth of the token dropped from 19% in the early launch period to about 2%.

Heavy pressure from internal unlocks; VIP events can’t restore market confidence

At present, the Trump coin market is made up mainly of retail investors holding relatively small positions, with no large investors to drive price movement. At token issuance, as much as 80% of the supply was held by Trump-related entities CIC Digital and Fight Fight Fight, and these tokens are expected to be continuously unlocked at a value of about $500,000 per day through mid-2028.

At current price levels, the remaining internally unlocked tokens represent potential supply pressure of more than $2.5 billion. This unlock schedule was clearly disclosed in the issuance terms, creating ongoing selling pressure for the market during periods when buyer interest declines.

The team previously held multiple hype-building events, such as a golf club dinner in May 2025 for the first 220 token holders, and a $100 million purchase plan promised by Tron (Tron) founder Justin Sun; the rebound rally gains from these efforts dissipated within weeks.

A crypto and business conference held at Mar-a-Lago on April 25, 2026 sparked political controversy. Senators including Elizabeth Warren sent letters demanding relevant documents regarding the role the president played in promoting the event. On-chain data shows that absorbing such a massive amount of potential supply would require a major demand event.