The Trump family's crypto fortune has taken a sharp hit, with their collective wealth dropping by $1 billion since September, according to the Bloomberg Billionaires Index. The drop in wealth down to $6.7 billion is tied to a broader selloff that has erased more than $1 trillion from the digital asset market, reports Bloomberg. President Trump's biggest hit comes from Trump Media & Technology Group, the parent company of Truth Social, whose value has dropped $800 million since September. The company, which has spent $2 billion on digital assets, is now sitting on a roughly 25% loss from its Bitcoin bet. It's also seen the value of its store of CRO tokens slashed in half, down to about $74 million.
Trump's memecoin, which has fallen in value since it was announced in January, has lost 25% of its value since August, with the family's share plummeting from $310 million to $117 million, per Bloomberg. Another major blow comes from World Liberty Financial, the family's flagship crypto venture, where the value of its WLFI token has fallen from 26 cents to 15 cents. The Trump family's store, once worth nearly $6 billion, is now valued at $3.15 billion. The Trumps, however, managed to pocket significant cash by selling tokens before the downturn.
Eric Trump, undeterred by the losses, has publicly urged investors to "buy the dip," insisting volatility is part of the crypto game and that the future remains bright for digital assets. A rep for WLF adds the company "has long-term conviction in the rapidly maturing technologies underpinning digital assets, which we believe will radically improve financial services," per the Independent.
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