"But the positive feedback loop of crypto under Trump is faltering now that crypto is down amid questions about the size of the AI bubble and the greater health of the economy. Bitcoin has had its worst month since its extremely messy year of 2022, dropping from $110,000 to as low as $84,000 since November 1. In total, over $1 trillion in value has been wiped out this month."
"An analysis by Bloomberg found that the president's net worth has dropped $1 billion since a recent high of $7.7 billion in September. His stake in Trump Media & Technology Group, the company behind Truth Social, has dropped $800 million alone in the last three months. (This is likely because it bought $2 billion worth of Bitcoin this spring, joining a fad of businesses putting the coin on their balance sheet to inflate the value of their assets.) The company remains unprofitable."
Cryptocurrency projects launched by Donald Trump's companies and sons inflated his paper wealth by well over $1 billion during the crypto boom. A friendly regulatory approach toward the sector under his administration helped drive those asset gains. Crypto has since tumbled amid concerns about an AI bubble and broader economic health; Bitcoin fell from $110,000 to as low as $84,000 since November 1, wiping out over $1 trillion in value this month. Bloomberg analysis found Trump's net worth declined $1 billion from a September high of $7.7 billion, with Trump Media & Technology Group losing $800 million after a $2 billion Bitcoin purchase, and the family's WLFI token collapsing by roughly $3 billion and remaining illiquid.
Read at Intelligencer
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