Trump Portfolio Loses $100M Due to Crypto Market Crash: Was Crypto Better Before?

Ever since its inception, the crypto market has been full of volatility, but the recent crash has again pointed out the unpredictability of digital assets. Under the current circumstances, $619M has been liquidated from the market in the last 24 hours. However, questions have begun to rise as to whether crypto was better before Donald Trump, as despite the recent developments, the market keeps suffering.

Donald Trump Portfolio Takes a $110M Hit Amid Crypto Market Crash

The Arkham Intelligence data reveals that Trump’s crypto-project, World Liberty Financial’s portfolio, has taken a major hit. Amid the ongoing crypto market crash, the portfolio has suffered a $110M loss. Additionally, Donald Trump’s personal crypto portfolio has declined significantly, losing 13% of its value.

Interestingly, the most significant drop came from the Ethereum price struggles, catering to the 65% of the loss. In addition, the rest of the altcoins took a considerable toll, revealing the poor state of the market.

The reports suggest that $619M has been liquidated in the last 24 hours, resulting in the global crypto market cap declining to $2.7T, which was last seen before Trump’s election win.

Crypto Market Crash: The Trump Effect on Crypto

The crypto stance of Donald Trump has led to the crypto space’s betterment. The crypto market witnessed significant gains but lows as well. This started with investors’ rising confidence in the industry, Bitcoin’s price hitting new highs, Trump announcing a U.S. Strategic Crypto Reserve, hosting the Crypto Summit, and much more.

These events reveal the ongoing developments and the effect Trump has on the crypto space. Before this, the crypto industry was battling stricter regulations instead of developments. With the Crypto Summit, more things will align positively for the industry.

However, critics have presented a different take, especially on Trump’s crypto portfolio as a conflict of interest. With higher expectations and rising uncertainty, the crypto market crashed.

Analysts believe this happened as uncertainty surrounded these key events. However, things may turn in favor in the long term with these events catering to benefit the industry with grown adoption.

Donald Trump Crypto Move: A Risky Precedent?

Amid the high optimism around the U.S. Strategic Reserve, analysts have pointed out several risks with forming a government-backed reserve. The Solana co-founder’s controversial post claims it is against the nature of decentralization, while the others add that it could result in market manipulation by the government.

In addition, it could bring corruption risk, favoritism of assets, regulatory capture, as they could shape policies in their favor, and much more.

Crypto critic Peter Schiff even mocked Trump’s Bitcoin Reserve, claiming he is launching one himself. These incidents reveal the investors’ diverted sentiments on these Trump events, resulting in the crypto market crash.

Conclusion: Was Crypto Better Before Donald Trump?

Along with highs, crypto has seen devastating lows since Trump’s political resurgence. While his crypto policies aim to make the United States the crypto capital, they have also increased volatility. Along with that, ethical concerns are also rising, with many questioning Trump’s effect.

With numerous crypto market crash incidents since Donald Trump came into power, few critics believe the market was better before. However, this is a conditional claim, and the outlook seems optimistic for the long term, as the U.S. The President’s crypto stance could push for global adoption and regulation.

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Pooja Khardia

With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.

As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.