The wipeout of $1 trillion worth of cryptocurrency was a major blow to the president’s wealth and that of his family in a year that was supposed to see crypto benefit from bullish support from the White House.
President Donald Trump helped spark a new rally after winning the presidency a year ago, with bitcoin and other tokens hitting record highs in the months after the election. A year later, things look very different for Trump and his supporters who flocked to the space.
According to the Bloomberg Billionaires Index, the Trump family’s wealth has fallen by $1 billion since September, from $7.7 billion to $6.7 billion, with losses fueled by the collapse in cryptocurrency prices since bitcoin hit a record high on October 6. The token is now firmly in a bear market, down more than 30% from its high of around $126,000.
Meanwhile, any trader who hoarded the president’s coins in his early days has been badly burned if he’s still holding on. The Trump coin, launched shortly before the inauguration, has lost more than 90% of its value since peaking at $75.35 on January 19. It was trading at $6.25 on Monday.
And it’s not just the tokens themselves that damage the first family’s wealth. American Bitcoin, a cryptocurrency mining company backed by Trump’s sons, began trading on Nasdaq on September 3 and has seen its shares plunge 30% since then.
Trump Media & Technology Group is also feeling the pressure. Shares of the president’s media company, which announced it would implement a crypto treasury strategy earlier this year, have fallen 30% over the past month. The stock is near an all-time low, down 70% in 2025.
It’s been a brutal six weeks for the crypto market. Bitcoin’s slide was fueled by a handful of factors, including a wave of liquidations of leveraged long positions and some nervousness about the prospects of falling rates.
Market professionals say the intense volatility has muddled the risk profile of markets as a whole. Bitcoin’s slide may have seeped into stocks last week and fueled a wild roller coaster heading into Thursday as investors sold stocks to meet margin calls on leveraged Bitcoin bets.
