"For a sense of just how much money has evaporated from the crypto industry since then, look to bitcoin. On October 6, the price of a single bitcoin climbed to an all-time high north of $126,000; today, its value is closer to $69,000. The global market capitalization of all coins has shed more than $2 trillion in that time, and fewer and fewer traders are dabbling in meme coins and derivatives. Following a relatively fruitful 2025, crypto-venture-capital deals have fallen off a cliff over the past few months."
"But wasn't Trump's election already a kind of bailout? His explicit promise on the campaign trail was that America would lead the way, but his implicit promise was that prices would go up. Since taking office, Trump has established himself as the face of crypto through his flagrant promotional tactics (remember those limited-edition bitcoin-orange sneakers?), his sweeping deregulation efforts, and, of course, his family's investments in digital assets. The Trumps have now made hundreds of millions of dollars from cryptocurrencies, according to recent estimates."
Donald Trump campaigned in 2024 pledging to make the United States the crypto capital of the planet. After crypto-industry donations helped secure his victory, digital-asset prices surged and he publicly took credit for the gains. Bitcoin rose to an all-time high above $126,000 before retreating to roughly $69,000, and the global crypto market lost more than $2 trillion. Trading in meme coins and derivatives has declined, and crypto venture-capital deals collapsed after a stronger 2025. Trump's promotional tactics, deregulation efforts, and his family's crypto investments coincide with large profits for the family, prompting questions about possible presidential intervention or bailout.
Read at The Atlantic
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