The recent drop in Bitcoin (BTC) prices and the decline in the overall digital asset market has wiped out nearly $1 billion in assets for the Trump family over the past two months.
The wealth of President Donald Trump’s entire family group has fallen from about $7.7 billion to about $6.7 billion since early September, according to financial estimates cited by Bloomberg.
This decline is directly related to the increased exposure of presidential families to projects related to the cryptocurrency industry.
One of the factors that contributed to the Trump family’s financial decline was Official Trump (TRUMP). it is about A meme coin created around the presidential figure.
The asset’s value has fallen by about 25% since August. As reported by CriptoNoticias, this is a far cry from the levels recorded after its launch on January 18 of this year. Losses widened further as there was no sustained recovery amid the global market pullback.
at the moment, TRUMP is trading around $6.2. For those who acquired the token at its peak, driven by expectations generated during the presidential inauguration, the devaluation effectively equates to the entire initial investment.
Meanwhile, the stock of a Bitcoin mining company called American Bitcoin, in which Eric Trump is an active participant, I have also undergone major revisions.. This resulted in a nearly 50% drop from its historical peak to US$4.43 per share. This can be seen in the following graph.
This was compounded by a decline in Trump Media & Technology Group (TMTG) stock. The company added Bitcoin to its balance sheet this year and is currently trading at a minimum of $10.3 per share.
Another factor fueling the outflow of the Trumps’ crypto investments is World Liberty Financial, a DeFi platform linked to the US president that was launched last year.
That token, called WLFI, has shown notable volatility in the last month After just one year, business performance deteriorated. The asset has accumulated a loss of 35.6% over 12 months, with an average cost of $0.14 at the time of writing this report.
The evolution of the Bitcoin market will be key to determining whether these Trumps’ losses stabilize or become even more severe.
(Tag Translation) Bitcoin (BTC)
