I was going through some crypto news today, and came across the the story about Donald Trump's crypto story, and honestly it feels like watching something fall apart in real time. Everything connected to Trump's name in the crypto world is just crashing in price, and it's happening much faster than the general market.
Bitcoin has been sliding for weeks, shedding about 25 percent from an October high of around $126,000. That's already rough for most investors. But the coins connected to the Trump family are performing even worse. It's as if every project bearing the Trump name is imploding at the same time.
The largest is World Liberty Financial, their family's flagship crypto venture. It was touted to bring in financial freedom the moment it came out, offering the creation of a new future in the digital space. Instead, the token has fallen more than 30 percent from its September peak. Those who went into it excitedly are now facing heavy losses.
Another related piece, Alt5 Sigma, once talked of as an important partner, saw its shares crash about 75 percent. The fall from what had been advertised with so much confidence and great expectations has really surprised many holders.
Not even the fun side of crypto, the memecoin space, is being spared. We saw the crypto names like Donald Trump and Melania making waves earlier this year. People were joking about them, hyping and having fun with them. But today the excitement has now died out. The Trump coin has fallen 90 percent from its high. Melania's coin has almost disappeared with a 99 percent fall. What had started as a playful idea turned into a complete wipeout for holders.
Another large piece of the family's digital plans is American Bitcoin Corp, the mining company run by Eric Trump. Its stock saw a surprise drop when it lost more than 30 percent in less than one minute. By the end of the day, the company lost 39 percent. The sudden release of restricted shares caused the price to be hit like a storm by a wave of selling.
Eric Trump has remained vocal and as confident as ever. He posted that he was retaining all his shares and was fully committed to the company. His resolve is unquestionable, though the market does not exude the same confidence.
The family's older ventures are taking hits, too: Trump Media and Technology Group, the company behind Truth Social, has fallen to about 11 dollars a share; in early January it traded around 42 dollars. It made big investments in Bitcoin, but with the market trending downward, the timing hasn't been kind.
The overall digital fortune of the Trump family is fast shrinking. Over a billion dollars has been wiped off from their net worth within a few months as coins, stocks, and investor confidence keep on falling. Yet Eric Trump still manages to be sanguine, insisting that those who embrace volatility are ultimately going to come out on top. He has never been more bullish about cryptocurrency's future. It's another reminder, if I needed one, how volatile crypto really is: hype comes fast, but when the excitement stops, the market shows no mercy. The collapse of Trump's crypto is just another example of how fast fortunes can turn around in this space.
Posted Using INLEO