Trump’s second term has turned his family’s crypto adventure into something far more dramatic than a simple market wobble. What started as a bold push into digital assets is now colliding with a trillion-dollar crypto drawdown, pulling the family’s net worth from about $7.7 billion in early September to roughly $6.7 billion. A Trump-branded memecoin has slipped about a quarter since August, Eric Trump’s stake in American Bitcoin Corp. (NASDAQ:ABTC) has been cut by more than half from its early-September peak, and Trump Media & Technology Group which dived into Bitcoin (BTC-USD) earlier this year is hovering near an all-time low. For everyday investors piling into Trump-linked tokens and stocks, the swings could be particularly jarring, given that anyone who bought the memecoin at its inauguration-weekend high would now be staring at near-total losses.
https://nz.finance.yahoo.com/news/trumps-crypto-fortune-just-took-120826561.html
The company behind Donald Trump’s social network Truth Social has lost more than $400m (£305m) on its stash of Bitcoin as the price of the cryptocurrency plunges in a trillion dollar market sell-off.
Trump Media & Technology Group held more than 11,542 Bitcoin at the end of September, according to its latest financial statement.
These crypto tokens were worth nearly $1.37bn when the business bought them over the summer. Now, their value has plunged to just over $950m, representing a fall of more than 30pc.
The price of Bitcoin has collapsed in recent days, falling as low as $82,070 on Friday, a drop of more than 5pc over the last day. It is down more than a third from all-time highs reached in October, when the digital currencies peaked at more than $125,000.
The wider cryptocurrency market has plunged over the last month amid a wider sell-off in technology stocks. The total value of all cryptocurrencies has fallen by approximately $1.5tn since October.
https://finance.yahoo.com/news/trump-tech-company-loses-400m-134002843.html