Trump Family Loses Over $1 Billion as Crypto and Meme-Coin Investments Collapse

Washington: According to the Bloomberg Billionaires Index, the total wealth of Donald Trump and his family has declined by more than one billion dollars in the last few months. The family had made large-scale risky crypto and meme-coin investments, the sharp decline in prices of which has deeply impacted their net worth.

A sharp decline in crypto token value

The total wealth of the Trump family was around $7.7 billion in September, which has now come down to around $6.7 billion. According to Bloomberg analysis, meme coins and other speculative crypto tokens associated with the Trump brand have seen a sharp decline in their value. According to the report, of the total decline, about $1.1 billion (about Rs 9,800 crore in Indian currency) is linked to crypto losses alone. The family's wealth suddenly jumped by $5 billion as soon as their cryptocurrency called WLFI started trading in September, but this increase did not last long.

Huge losses in meme-coin and bitcoin mining investments also

The value of the Trump-branded meme coin $TRUMP has fallen by about 25% in the last few months. At the same time, Eric Trump's stake in the Bitcoin-mining company has also been reduced by almost half.

Trump Media & Technology Group (TMTG), which owns Truth Social and had planned to create a crypto treasury, has also seen its share price hit record lows. Since September, the value of Trump's stake in this company has declined by approximately $800 million. The report also states that not only the Trump family but also the investors who had invested money in meme coins bearing Trump's name are facing huge losses. Tokens purchased at peak value in January are almost worthless by November.

Eric Trump said this is a 'great buying opportunity.'

Despite the market decline, Eric Trump's stance is completely different. He has appealed to the investors to remain patient and said that only those who buy at the time of decline benefit in the future. “This is a great buying opportunity,” he told Bloomberg. He claimed that the future of crypto and the financial system is very bright.

Crypto shines low, goes into huge value vacuum

A Wall Street Journal report in September estimated that crypto assets were now worth more than the Trump family's real estate assets. There was a huge increase in the family's wealth due to projects like WLFI, but now this project is also going through a huge decline. The value of the WLFI token has fallen from a peak of $6 billion to approximately $3.15 billion. Many tokens are currently locked, so they cannot be sold.

Eric Trump's Bitcoin company also faces huge decline

The shares of the American Bitcoin company in which Eric Trump holds a 7.5% stake have also fallen by more than 50%. The decline has wiped off more than $300 million in value from the family's wealth since September. Investors who had bought shares at the time of IPO are facing a loss of about 45%.

Overall, this decline shows how volatile the crypto market can be. This market gives away billions of dollars in bull runs, but in recessions the wealth gets wiped out just as fast.