The cryptocurrency launched by Trump has plummeted over 90% from its peak, with investors who bought at high prices facing significant losses.
In January last year, just before Trump's inauguration, the Trump token briefly soared from $1.20 to a peak of $75.35, and is now trading at $4.96, down 94% from its high.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/da8217ed-52fb-41ab-bcd4-70adf76af5e1.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/da8217ed-52fb-41ab-bcd4-70adf76af5e1.png"/> (Trump token weekly chart, latest quote $4.96)
A few days after the launch of the Trump token, Trump's wife Melania launched her own meme coin. Its price has now dropped from a peak of $13.73 to the current $0.15, a decline of 99%.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/33a62c3f-6266-4ed2-8135-b6e0856931b2.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/33a62c3f-6266-4ed2-8135-b6e0856931b2.png"/> (Melania token weekly chart, latest quote $0.1542)
According to a previous investigation by the Financial Times, the Trump family's cryptocurrency activities have generated over $1 billion in pre-tax profits. These token projects have faced severe criticism from cryptocurrency industry figures, governance experts, and Democrats for being seen as quick money-making schemes and abuse of power.
<h2>The Decline of Meme Coin Frenzy</h2>
Investor enthusiasm for meme coins peaked at the end of 2023 and the beginning of 2024.
These highly volatile tokens can be issued online by anyone, lacking fundamental value, business models, or cash flow, relying solely on their popularity and association with viral moments or celebrities to generate speculative interest.
Despite the significant price drop, according to CoinMarketCap data, the Trump token remains the fifth largest meme coin by market capitalization.
The Trump token and Melania token have generated approximately $427 million in sales and trading fees, but the specific profit distribution between the two parties remains unclear.
The Trump organization has now shifted its focus to other projects.
The Trump Media &amp; Technology Group, which operates the Truth Social media platform controlled by the Trump family, plans to issue new cryptocurrency tokens to shareholders on February 2 as part of an agreement with Crypto.com.
<h2>Concerns Over Conflicts of Interest</h2>
Since returning to the White House, Trump has been a strong supporter of the cryptocurrency industry, appointing regulatory officials who support cryptocurrencies and pardoning some criminals. He and his family have also founded multiple cryptocurrency businesses.
U.S. governance experts are calling for strict safeguards to be included in the landmark U.S. cryptocurrency market structure rules currently being developed in Washington to prevent conflicts of interest in government.
Several groups, including Democracy Defenders Action and the Project on Government Oversight, sent a letter to the Senate last week urging it to include measures that would prohibit the president and other senior officials from holding or trading cryptocurrencies
They wrote that otherwise the system &#34;could be exploited by those in power, putting ordinary investors at risk of fraud, manipulation, and abuse,&#34; and pointed out various cryptocurrency businesses of the Trump family.

Trump's cryptocurrency has plummeted over 90% from its peak, dropping from $75 to $5; Melania Coin has fallen even more, down 99% to $0.15. Despite the price collapse, the Trump family has profited over $1 billion from cryptocurrency activities. These worthless meme coins attract speculation solely based on celebrity effect, raising questions about conflicts of interest

- The value of Trumpcoin has plummeted over 90% from its peak, with investors facing significant losses as its price dropped from $75.35 to $4.96.  
- Melania Trump's meme coin also saw a drastic decline, falling 99% from its peak of $13.73 to $0.15.  
- Concerns over potential government conflicts of interest have arisen as Trump supports the cryptocurrency sector, prompting calls for new regulations to protect investors from possible abuses linked to political figures.

Wallstreetcn

Bitdeer Tech

Invesco Galaxy Bitcoin ETF

Grayscale Bitcoin Premium Income ETF

CoinShares Bitcoin ETF

Franklin Bitcoin ETF

WisdomTree Bitcoin Fund

American Bitcoin

Grayscale Bitcoin Trust BTC - ETF

Hut 8 Mining

VanEck Bitcoin ETF

Bit Digital

ProShares Bitcoin Strategy ETF

BTCS

Core Scientific, Inc.

Riot Platforms

iShares Bitcoin Trust ETF

Fidelity Wise Origin Bitcoin Fund - ETF

Mara

Bitwise Bitcoin ETF

ARK 21Shares Bitcoin ETF

Valkyrie Bitcoin and Ether Strategy ETF

Grayscale Bitcoin Miners ETF

Bitfarms Canada

Coinbase

CleanSpark

The U.S. President personally "harvests leeks," Trump Coin has dropped 94% in a year!