Trump Family's Crypto Assets Drop Over 90%, Far Outpacing Market Decline

As reported by MarsBit, Bloomberg reported that crypto projects promoted by the Trump family have suffered significant losses, far exceeding the decline of major assets like Bitcoin. On Tuesday, American Bitcoin, a crypto mining firm co-founded by Eric Trump, plummeted 50% in a single day, down 75% from its peak. The World Liberty Financial token (WLFI), co-founded by former President Trump and his son, fell 51% from its early September high. Alt5 Sigma, promoted by Trump's son, dropped about 75%. Memecoins named after Trump and his wife Melania fell around 90% and 99% from their January highs, respectively. In comparison, Bitcoin declined only about 25% during the same period. Professor Hilary Allen from American University noted that the Trump family's crypto projects have rapidly lost value and failed to bring the expected legitimacy to the industry. The collapse has eroded over $1 billion in the Trump family's wealth and shaken market confidence in both crypto assets and the former president.