The Trumps made over $1 billion in pre-tax profits from crypto activities.
The price of the Trump coin has dropped 93.4% over the past year. The interest in the president’s controversial cryptocurrency has diminished.
Investors who bought at the highest prices face large losses due to the steep price drops, increasing criticism of the president’s crypto businesses.
Trump’s inauguration hype turns into a 93.4% collapse
The Trump coin went live on January 18, 2025. A year later, it’s trading at $4.84, down 93.4% from the highest point.
The token dropped steeply after reaching its peak near the US president’s January 2025 inauguration.
Before Trump’s January inauguration, the $TRUMP memecoin rose sharply from $1.20 to $73.43, per data from CoinGecko.
In late 2023 and early 2024, investors showed intense excitement for memecoins. Anyone online can launch volatile crypto tokens.
These tokens lack fundamental value, a business model, or cash flow. They depend on popularity and ties to viral events or famous people to attract speculative interest.
A few days following the launch of the $TRUMP coin, Melania Trump introduced her own memecoin.
According to aggregated data, the price soared to $13.05 but has since dropped to just under $0.15, a 99% decline from its highest point.
The $MELANIA memecoin represents the classic pump and dump cycle of a memecoin.
Even with its price drop, $TRUMP is still the sixth largest memecoin by market cap, per CoinGecko data.
The Trumps made over $1 billion from crypto
The Trumps made over $1 billion in pre-tax profits from crypto activities.
“In the last couple of weeks alone, the Trump family added $1.3 BILLION to their wealth through their crypto schemes,” wrote the U.S. Senator Elizabeth Warren on X.
On-chain data shows TRUMP and MELANIA meme coins earned about $427 million from trading fees. The World Liberty Financial tokens (WLFI) made $550 million in profits. And the USD1 stablecoin had $2.7 billion in sales.
Crypto experts, governance specialists, and Democrats have strongly condemned the president and his wife’s memecoins as a fast cash scheme and misuse of authority.
After coming back to the White House, Trump supported the industry by naming pro-crypto regulators.
The president granted pardons to high-profile crypto figures, including Silk Road founder Ross Ulbricht, and former Binance CEO Changpeng Zhao.
Trump and his family started multiple crypto companies including World Liberty Financial, and American Bitcoin.
Governance experts want new US crypto rules in Washington to have strict safeguards against government conflicts of interest.
Last week, Democracy Defenders Action and the Project on Government Oversight asked the Senate to ban the president and top officials from owning or trading cryptocurrencies.
They warned that those in power could exploit the system, putting everyday investors at risk of fraud, manipulation, and abuse.
The Trump companies have moved their focus to new ventures. According to Cryptopolitan, Trump Media will airdrop a new crypto token to DJT shareholders on February 2. The token distribution event will take place on the Cronos blockchain.
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