The post Trump Family Profited $320M on Memecoin Despite 87% Decline Since Day One appeared on BitcoinEthereumNews.com.

U.S. President Donald Trump has come a long way since he said the value of crypto was “based on thin air” in 2019. So much so that he is now one of the sector’s largest proponents, foraying into memecoins, DeFi, NFTs, and even stablecoins. A new report by the State Democracy Defenders Fund estimates that Trump’s family has increased their net worth by $2.9 billion thanks to crypto, and that now 40% of that net worth is being held in crypto assets. His deepening ties to the industry have reverberated across the political landscape, to the point that a broadly bipartisan stablecoin bill failed in a key vote Thursday after Democrats expressed concern about the extent to which he is profiting off the sector. Trump’s support helped spark a continued bull market after his election victory in November, a market that’s been dominated by two trends: memecoins and institutional adoption of bitcoin via ETFs. While the latter is the province of, generally, institutional investors and providers, it’s the memecoin business that puts retail investors at risk and is potentially ripe for exploitation. On Thursday, Solidus Labs claimed that 98% of memecoins issued on the token creation platform pump.fun were rug pulls or pump-and-dump schemes. The platform has since refuted the report’s claims. Another analysis by Chainalysis, cited by CNBC, suggested that the vast majority of TRUMP token holders lost money. A memecoin is a type of crypto token with no inherent value, often based, as the name suggests, on a meme or cartoon character. Popular examples of this are dogecoin (DOGE), shiba inu (SHIB) and pepe (PEPE). The craze reached a climax in January when Trump touted his own TRUMP token on social media, followed by MELANIA— named after his wife. TRUMP, which hit a day-one peak of $77.26, is…

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Filed under: News - @ May 9, 2025 9:22 pm