Trump family's crypto ventures lose 1 billion in just two months

American Bitcoin Corp. crashed and burned today as shares go down 33% just one minute after trading started in the morning, plummeting to a loss in value of 50% less than half an hour later.

The absolute failure of ABC is perfectly aligned with the general collapse of the crypto market the next few months and with the constant failure of every crypto venture the Trumps have ever been involved in. World Liberty Financial, co-founded by President Trump and his sons, saw its WLFI token fall 51% from its peak as Alt5 Sigma, a company promoted by Trump's sons, lost 75% amidst legal issues. American Bitcoin, co-founded by Eric Trump, is down 75%, and Trump's and the First Lady's named memecoins are down respectively by 90% and 99%.

The fall of all Trump related crypto ventures is connected to the situation the whole market is facing but it also shows a significant drop in trust towards the President by the public and investors as the accumulated wealth the Trump family accrued from crypto this year dissolves with the recent losses. The objective of Trump's promotion of crypto seemed to be including the new asset into the institutionally legitimate side of the financial market. This plan has clearly failed for now.

President Trump seems to be dissociating from the projects more and more while Eric Trump is still defending the legitimacy and stability of American Bitcoin. The American government's regulatory reforms have allowed crypto to soar in the first half of the year but are now under scrutiny as Trump's crypto czar, David Sachs, has been the subject of a NYT hit piece on conflict of interest. American Bitcoin has also been investigated for using Chinese-manifactured mining machines, a substantial hit to Trump's "America First" image.

Klevis Gjoka