U.S. President personally "cuts the leeks," Trump coin drops 94% in a year!

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The cryptocurrency launched by Trump has plummeted over 90% from its peak, and investors who bought at high prices are suffering huge losses.

On the eve of Trump's inauguration last January, the Trump token briefly soared from $1.20 to a peak of $75.35, but now trades at $4.96—a drop of 94% from its high.

(Trump Coin Weekly Chart, Latest Price $4.96)

Several days after Trump Coin was issued, Trump's wife Melania launched her own Meme coin. Its price has fallen even further, from a peak of $13.73 to the current $0.15, a drop of 99%.

(Melania Coin Weekly Chart, Latest Price $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 been sharply criticized by crypto industry insiders, governance experts, and Democrats as fast money-making schemes and abuse of power.

Meme Coin Fever Fades

Investor enthusiasm for Meme coins peaked in late 2023 and early 2024.

These highly volatile tokens can be issued online by anyone, have no fundamental value, business model, or cash flow, and rely solely on their popularity and association with viral moments or celebrities to generate speculative interest.

Despite the sharp price decline, according to CoinMarketCap data, Trump Coin remains the fifth largest Meme coin by market value.

Trump Coin and Melania Coin have generated about $427 million in sales and trading fees, but it's unclear how profits are divided between the two parties.

The Trump Organization has now shifted its focus to other projects.

Controlled and operated by the Trump family, the Truth Social social media platform's Trump Media & Technology Group plans to issue a new cryptocurrency token to shareholders on February 2, as part of a deal with the Crypto.com exchange.

Conflict of Interest Concerns

Since returning to the White House, Trump has strongly supported the cryptocurrency industry, appointing crypto-friendly regulators and pardoning some criminals. He and his family have also founded several crypto businesses.

U.S. governance experts are calling for the landmark U.S. crypto market structure regulations currently being developed in Washington to include strict safeguards to prevent government conflicts of interest.

Multiple groups, including Democracy Defenders Action and Project on Government Oversight, sent a letter to the Senate last week urging them to include measures prohibiting the President and other senior officials from holding or trading cryptocurrencies.

They wrote that otherwise, the system "could be exploited by those in power, putting ordinary investors at risk of fraud, manipulation, and abuse" and pointed to the Trump family's various crypto businesses.

Risk warning and disclaimerThe market carries risk; investment requires caution. This article does not constitute personal investment advice, nor does it take into account the special investment goals, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Invest accordingly at your own risk.

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