Washington- Latest Crypto Crisis Causes Trump Family Wealth to Shrink!
What was previously rising sharply is now falling sharply: US President Donald Trump (79), his sons (nicknamed “crypto boys”) and other family members suffered major losses. To what extent? At least a billion dollars!
The Trump family suffered a significant setback during the strong crypto downturn: Bitcoin fell from a record high of more than $126,000 in October to around $82,000 – a loss of 32 percent. Other digital currencies also fell sharply.
In total, around a trillion dollars of crypto investors’ money has disappeared in recent weeks.
The Trump family has recently invested aggressively in meme coins (the “fun coins” that are buzzing on social media) and other crypto businesses. Bloomberg now estimates the president’s wealth, including family investments, at $6.6 billion. At the beginning of September it was still 7.7 billion.
Crypto People: Donald Trump Jr. (right) and Eric Trump, co-founder of World Liberty Financial, react in front of the Nasdaq building following the stock exchange listing of “World Liberty Financial”
The family’s recent massive crypto foray led to a personal “golden age”: In September, the Wall Street Journal reported that their crypto positions exceeded the value of the Trump Organization’s entire real estate.
Prices fall
► Meme coin $TRUMP has lost a quarter of its value since August. Compared to the initial price in January of $43, the minus is even 84.47 percent. On Tuesday, a joke coin was worth about six dollars.
► Bitcoin mining company “American Bitcoin”, in which his son Eric (41) holds a seven percent stake, has lost half of its share value since September. About $300 million in family assets simply vanished.
► “World Liberty Financial” (WLFI), co-founded by Eric and Don Jr. (47) and 60 percent owned by the family, also stuttered: Due to the fall in the price of WLFI coins, the value of the company fell from six billion to 3.15 billion dollars. Trump’s youngest offspring, Barron (19), also has shares here.
Bad things are also happening outside of cryptocurrencies: the securities of “Trump Media & Technology Group” (TMTG), which belongs to “Truth Social”, recently fell to a new low. Since February, the decline has reached almost 70 percent.
Trump, who holds 115 million shares, and other family members such as Don Jr. has lost $5.3 billion, according to Barron’s. There was also an additional loss of $400 million in the company’s crypto assets.
Now the family only has hope that the crypto sector will recover.
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