Due to losses in the volatile cryptocurrency market, the Trump family’s fortune has nosedived by a whopping billion dollars in just a few months. Trump’s memecoin, including Melania’s, has even underperformed Fartcoin. And Trump’s followers are feeling the crunch, too.
Via Bloomberg News:
In President Donald Trump’s second term, crypto assets transformed his family’s wealth. Now the Trumps — and their followers — are getting a crash course in the wild volatility ingrained in digital currencies.
The value of a Trump-branded memecoin has fallen by about a quarter since August. Eric Trump’s stake in a Bitcoin mining venture has shed roughly half its value from its peak. And shares of Trump’s social media company, which started hoarding Bitcoin this year, are hovering near an all-time low.
The selloff is part of a broader rout that’s wiped out more than $1 trillion of value across the digital asset world. The Trump family’s fortune has fallen to about $6.7 billion from $7.7 billion in early September, according to the Bloomberg Billionaires Index, a decline largely tied to its growing portfolio of crypto ventures.
