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Trump Family Crypto Projects Lose 50-75% Value Amid Market Downturn
The Trump family-linked crypto projects have experienced significant declines recently:
- American Bitcoin Corp. (ABTC) shares dropped 38% on December 2, with a 75% decrease from September highs.
- The price of Bitcoin fell by 25% in the same period, but the Bitcoin mining firm continues to add more BTC to its reserves.
- Eric Trump attributed ABTC's stock volatility to the unlock of pre-merger private placement shares, while maintaining that the company’s fundamentals are strong.
Other Trump Family-Linked Projects
- World Liberty Financial's WLFI token decreased by 51% from its early September peak.
- Alt5 Sigma (ALTS) shares plunged 75%, with an overall 85% drop over six months due to legal challenges.
- Memecoins themed around Donald and Melania Trump declined by approximately 90% and 99% respectively from their January peaks.
- Collectively, Trump family projects lost over $1 billion during the recent crypto market downturn.
While Trump's support initially boosted crypto assets, recent months have seen increased market volatility amid growing macroeconomic uncertainties.
Authors credited by the source: Bhushan Akolkar
Published by Holder based on an external source.
