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Trump's $1 Billion Crypto Collapse Fuels Scrutiny Over Family Ventures and Presidential Ethics
The Trump family’s net worth dropped by $1 billion due to the crypto crash, with losses in a Trump-branded memecoin, Bitcoin mining stakes, and Truth Social shares.
- Bloomberg News found the Trump family fortune fell by about $1 billion in recent months, lowering their net worth to about $6.7 billion from $7.7 billion in September.
- World Liberty Financial’s WLFI token fell from 26 cents to around 15 cents, erasing nearly $3 billion of value amid the broader crypto market decline, Bloomberg found.
- Shares of Trump Media & Technology Group tumbled, wiping about $800 million from the family's stake since September, while Eric Trump's roughly 7.5 percent holding in American Bitcoin Corp lost over $300 million after ABTC shares halved.
- Watchdog groups condemned the memecoin gala and critics called it `It's an ethics nightmare`, while the administration denied conflicts of interest.
- The Trumps can mint and sell tokens to capture proceeds regardless of market prices, with Eric Trump calling it `a great buying opportunity`; some WLFI token holdings are locked and excluded from Bloomberg Billionaires Index.
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Trump's family wealth falls by over $1 billion after crypto shock
Donald Trump's family’s wealth has dropped by over $1 billion, largely due to losses in high-risk cryptocurrency ventures, including Trump-branded memocoin and Eric Trump’s Bitcoin investments. However, Eric Trump remained unfazed and urged investors to double down on their investments in the crypto market, calling it a great buying opportunity.
·India
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Coverage Details
Total News Sources15
Leaning Left5Leaning Right1Center1Last UpdatedBias Distribution72% Left
Bias Distribution
- 72% of the sources lean Left
72% Left
L 72%
14%
14%
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