Trump family loses $1 billion as crypto market collapses

The crypto market downturn has caused the Trump family’s wealth to drop by $1 billion over the past couple of months.

According to Bloomberg, at the beginning of September, the family’s assets were valued at $7.7 billion, but now stand at $6.7 billion.

A significant factor in this decline was the Trump Media & Technology Group, which owns the social network Truth Social. The company’s shares fell to a record low last week.

Bloomberg suggests that part of the drop can be attributed to the company’s untimely investment in cryptocurrency. As a result, the president’s stake in Trump Media has lost roughly $800 million since September.

The Trump family’s crypto fund, World Liberty Financial, has also suffered losses. Its proprietary token, WLFI, fell from $0.26 in early September to $0.15 by mid-November. At its peak, the family’s WLFI token holdings were worth nearly $6 billion, but are now valued at $3.15 billion.

Bloomberg did not include this token in its calculations of the family’s losses since it cannot currently be sold. Including WLFI, the Trump family’s financial losses would amount to nearly $4 billion.

By Khagan Isayev