President Trump’s crypto empire is collapsing, and his supporters are paying the price

Since taking office, US President Donald Trump and his family have jumped headfirst into a wave of cryptocurrency-focused business ventures, and have seen their wealth soar for a time on the back of these deals. However, its momentum has been waning.

Today, as market volatility intensifies, both the interests of the Trump family and those of their most ardent supporters have evaporated.

Family crypto empire faces reversal

Trump’s cryptocurrency venture has become well-known throughout the industry.

They began with the issuance of a meme coin of the same name, quickly followed by a nearly identical token from First Lady Melania Trump. Then along came World Liberty Financial. Eric Trump also intervened through his Bitcoin mining company Hut8.

At this point, there is virtually no part of the cryptocurrency industry that the president’s family does not participate in.

At their peak, the profits from these businesses were staggering. Estimates vary, but an August investigation by watchdog group Accountable US found that about 73% of Trump’s assets were tied to crypto-related transactions.

The figure represents a sharp increase from April, when the NGO National Democracy Defense Fund estimated that 37% of his wealth came from cryptocurrencies.

However, that image has changed dramatically. With markets currently in the doldrums and indexes flashing red, the Trump family’s crypto profits are taking a hit.

Family token and stocks plummet

The Trump family’s crypto portfolio has suffered in nearly every venture they’ve been involved in.

Trump branded meme coin reachIts most recent peak was $9.49 on November 10, but it has since plummeted to $6.20, a drop of nearly 35% in just a few days. The exact amount of the family’s stake is unknown, but estimates suggest the decline wiped about $117 million from their holdings.

Trump Media, the parent company of President Trump’s social media platform Truth Social, also suffered losses, particularly after deciding to invest $2 million worth of Bitcoin in July.

Bloomberg estimates that the value of the president’s shares in the company has fallen by about $800 million since September. Trump remains the company’s largest shareholder, with his shares held in a trust controlled by his eldest son, Donald Trump Jr.

Meanwhile, the WLFI token price has fallen from $0.26 in early September to around $0.15. The drop nearly cut the value of Trump’s locked tokens in half, from nearly $6 billion to about $3.15 billion.

WLFI price chart for the past 90 days. Source: CoinGecko.

Even their mining venture, American Bitcoin Corp., hasn’t escaped a crushing defeat. The company was established in partnership with Hut8, which acquired a majority stake shortly after President Trump took office.

Eric Trump ended up owning about 7.5% of the company, while Donald Trump Jr. secured a smaller private stake.

The venture initially soared, valuing Eric’s stake at about $630 million, but when the market turned, the stock price fell by more than half, wiping out about $300 million from his holdings.

Cryptocurrency losses worsen due to market meltdown

The Trump family’s decline in crypto assets is just one part of a broader market collapse that wiped out more than $1 trillion in digital asset value.

The sector is facing one of the sharpest economic downturns in recent months. Major tokens are falling, leveraged positions are being unwound, and a wave of liquidations is coming. This has spread to the derivatives market.

Bitcoin’s selloff has also sent altcoins and crypto stocks tumbling, highlighting how quickly momentum can reverse in a notoriously volatile industry.

Individual investors have borne much of the pain. Many piled into tokens, mining stocks, or name brand projects near the highs, only to see their prices collapse within weeks.

The post “Trump’s crypto empire is collapsing – and his supporters are paying the price” originally appeared on BeInCrypto.