The Trump family’s wealth fell by $1B due to crypto market declines, with major losses in tokens, mining ventures, and Trump Media’s bitcoin holdings.
Summary
- Trump Media & Technology Group and World Liberty Financial suffered large losses as crypto and bitcoin investments declined.
- Eric Trump and Donald Trump Jr. joined Hut 8, securing control in American Bitcoin Corp, but share values dropped.
- Eric Trump frames the downturn as a “buying opportunity,” endorsing long-term commitment despite volatility.
The Trump family’s reported wealth has declined by more than $1 billion over the past month due to losses in cryptocurrency holdings, according to Bloomberg.
The family’s crypto assets have been affected by recent market conditions, including President Trump’s official memecoin, Eric Trump’s Bitcoin mining firm American Bitcoin, and Truth Social, all of which are tied to Bitcoin, according to the report.
Trump family crypto holdings suffer heavy loses in latest market rout
Trump Media & Technology Group, the parent company of Truth Social, has experienced significant losses. The firm’s shares fell to a record low, reducing the value of Trump’s stake since September, Bloomberg reported. The company invested heavily in Bitcoin (BTC), purchasing a large stockpile at higher prices that has since declined in value.
World Liberty Financial, described as the family’s principal crypto operation, has also seen its token valuation decrease from previous highs. A spokesperson for World Liberty Financial (WLFI) stated that “Crypto is here to stay” and emphasized long-term conviction in technologies supporting digital assets, suggesting these innovations could transform financial services.
Following President Trump‘s return to office in January, his sons Eric Trump and Donald Trump Jr. began collaborating with Hut 8 Corp, a crypto company that supplies Bitcoin mining equipment. In exchange, they secured a controlling interest in a newly formed organization called American Bitcoin Corp, according to reports. Eric Trump holds approximately a 7.5% stake in the venture.
Shares of Hut 8, traded on Nasdaq, have fallen sharply, reducing Eric Trump’s wealth since September, the report stated.
Eric Trump stated that the recent market declines may present “a great buying opportunity,” according to public statements. He suggested that those who purchase during downturns and embrace market volatility are likely to be long-term winners in the cryptocurrency landscape.
Bitcoin showed a modest recovery after hitting recent lows, but remains substantially below its all-time highs reached earlier in the year, according to market data.
Source: https://crypto.news/trump-familys-crypto-fortune-drops-over-1b-in-market-rout/