Two Trump-branded companies aimed at retail buyers both find themselves in a difficult position months after their debut, but for different reasons.
About 600,000 buyers have paid a $100 deposit 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 made to Trump Mobile’s registered company, T1 Mobile LLC, which uses a limited liability agreement from DTTM Operations, LLC – the company that manages the intellectual property, trademarks and image of merchandise associated with US President Donald Trump.
Wow, those Gold Trump phones that 590,000 people paid a $100 deposit for still haven’t been delivered after announcing they would be by September, so NBC who purchased one tried to call the company and there is no phone number, only 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 were changed from late summer 2025 to November, then to December, and finally to the first quarter of 2026, before being removed from the website entirely.
According to the IBTimes report, the company updated its terms of service in April to clarify that deposits represent a “conditional opportunity” to purchase the device if the company chooses to sell it, thereby removing any binding contract. (CoinDesk has not independently reviewed the previous version of the Terms.)
Trump Mobile did not respond to an emailed request for comment at the time of publication.
The TRUMP memecoin, a separately structured company, has had its own difficult journey. The token launched in January 2025 at $1.21, soared to $73 in 48 hours as retail speculators flocked to the inauguration, and spent the next 16 months falling.
TRUMP was trading at $2.45 on Monday, down about 97% from its peak and 82% for the year, according to CoinGecko data. Chainalysis estimates that retail investors in TRUMP have collectively lost around $2 billion since its introduction.
TRUMP launched with 80% of the supply held by Trump-affiliated entities CIC Digital and Fight Fight Fight, and these tokens are expected to be unlocked worth approximately $500,000 per day (at current prices) until mid-2028. The timeline was disclosed as part of the token’s launch terms, but produced sustained supply on the sell side during a period of declining buyer interest.
TRUMP’s daily DEX trading volume fell from a peak of nearly $7 billion on January 20, 2025 for around 400,000 traders to around $16 million for 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 revenue and unique daily participants. The average transaction size has fallen from around $2,700 to $260 over the same period, suggesting that the remaining buyers are small retail accounts rather than the larger speculators who drove the initial launch.
The share of TRUMP holders holding more than $1,000 in the token has collapsed from around 19% at launch to around 2% today, meaning that almost all remaining wallets now hold less than $1,000 of TRUMP. The token has effectively settled into a long queue of small bag holders, without any large position holders to generate significant price action.
For TRUMP holders, on-chain calculations suggest that a return to launch-era valuations is becoming increasingly unlikely. At current prices, the remaining unlocked insider tokens represent over $2.5 billion in potential oversupply.
To absorb this supply would require a demand event larger than anything the token has seen since launch, with the token down 13.6% over the past 30 days and around 0.1% for the day.
A dinner hosted by Trump for the top 220 token holders at his Virginia golf club in May 2025 resulted in a gathering that faded within weeks. Tron founder Justin Sun pledged $100 million in TRUMP purchases ahead of the July 2025 unlock, with the token continuing to decline in the months since.
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 first 29, prompted a letter from Senators Warren, Adam Schiff (Democrat, Calif.) and Richard Blumenthal (Democrat, Conn.) requesting documents on the president’s role in promoting the event.
Although Trump Tokens and Mobile Companies have different structures and mechanics, they got their start on intense political enthusiasm and have struggled in the months since to translate that initial momentum into delivered products or sustained price support.
