Peter Schiff said Donald Trump’s meme coins function as legal bribes, arguing that buyers used the tokens to seek access.
Key Points:
- Schiff said major buyers of Trump-linked tokens were paying for attention, not investing in durable assets.
- TRUMP meme coin (TRUMP) is down nearly 98% from its January 2025 peak, while MELANIA meme coin (MELANIA) is down more than 99%.
- A federal disclosure listed about $636 million in meme coin royalties and roughly $515 million from WLFI token (WLFI) sales.
Trump Meme Coins
Schiff made the claim on the latest episode of The Peter Schiff Show, where he criticized the role of TRUMP and MELANIA in Trump’s wider crypto business.
The comments came after a federal disclosure showed more than $1 billion in crypto-related income for Trump in 2025, while both tokens traded just above record lows reached in June.
CoinGecko data showed TRUMP at $1.71, nearly 98% below its January 2025 high of $73.43, and MELANIA near $0.078, more than 99% below its $13.05 peak.
The Wall Street Journal, citing Nansen data, reported that about two-thirds of TRUMP holders were in the red. It also said about 85% of investors who bought World Liberty Financial’s WLFI token on the secondary market had unrealized losses.
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Schiff Bribe Claim
Schiff said the losses did not tell the full story because some large buyers were not treating the tokens as investments.
“He’s actually had events at the White House where the top owners of Trump coin are allowed to attend. But it’s really a way to bribe the president. You don’t have to give him money directly, just buy his token, because who else would buy the token? It’s a lousy investment,” Schiff said.
The 927-page filing said CIC Digital earned about $636 million in meme coin royalties last year, while World Liberty Financial generated roughly $515 million from token sales.
“Everybody named Trump is making money, but the people who bought those tokens lost everything on those tokens,” Schiff said.
The criticism fits a broader political fight over Trump’s crypto ventures. In January 2025, Elizabeth Warren and Jake Auchincloss warned that the coins could give foreign buyers a way to “curry influence with the administration.”
That concern predated the latest losses, but it now sits alongside market data, which shows how quickly Trump-linked tokens moved from political spectacle to steep drawdowns for retail holders.
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