President Donald Trump once promised to usher in “the Golden Age of Crypto.” Instead, the very tokens bearing his name are collapsing — and taking thousands of everyday Americans’ savings with them.
The $TRUMP coin, launched just days before Trump’s January inauguration and hyped as “the people’s currency,” has crashed from nearly $75 per token to under $8 — an 88% plunge. Meanwhile, First Lady Melania Trump’s $MELANIA token has fared even worse. After peaking at $12 in January, the coin now trades for just 20 cents — a 98% wipeout.
“I put $5,000 into $TRUMP because I believed in his promise to make crypto great,” said Evan Ramirez, a 32-year-old Florida contractor. “Now I can’t even cover my rent. Meanwhile, they’re making millions.”
Trump had boasted that his presidency would transform America into “the global capital of digital freedom,” vowing to slash financial regulations and champion blockchain innovation. But critics say the president blurred the line between public office and private enrichment.
A Reuters investigation revealed that CIC Digital, a company controlled by Trump, secretly held 800 million $TRUMP tokens as of February. In just the first weeks after launch, the creators pocketed nearly $100 million in trading fees. By May, estimates suggested Trump’s empire had collected roughly $320 million in profits — even as average investors lost big.
The president’s inner circle has leaned into the hype, throwing lavish events for token holders. One such dinner at Trump National Golf Club in Virginia, dubbed “the most exclusive invitation in the world,” required attendees to hold at least $1 million in $TRUMP tokens. Attendees say Trump appeared briefly before leaving by helicopter after only 23 minutes.
“The food sucked, and so did the investment,” one investor told CNBC. “We basically paid to watch him wave at us.”
While early insiders made millions, most retail buyers weren’t so lucky. A blockchain analysis firm estimates that over 200,000 wallets — primarily belonging to small investors — are now sitting on near-total losses.
“This wasn’t about decentralization or financial freedom,” said Sen. Elizabeth Warren (D-MA). “This was a Trump family grift disguised as innovation.”
With President Trump aggressively deregulating the crypto industry, Senate Democrats are demanding answers. A formal request has been filed with the Office of Government Ethics to investigate potential violations of the Emoluments Clause, which forbids U.S. presidents from profiting from their office. So far, the Trump Organization has not responded to repeated requests for comment.
Adding insult to injury, Bitcoin — the world’s most popular cryptocurrency — has risen nearly 10% since Trump returned to the White House.
“Everyone thought Trump’s presidency would be a boom for crypto,” said Dr. Lena Torres, a finance professor at NYU. “Instead, his coins collapsed while the broader market thrived. It’s a case study in overhype and exploitation.”
Despite the collapse, Trump has doubled down on crypto promotion, even hinting at a new “mega-token” to “restore America’s financial freedom.” But for thousands of Americans who bought into the president’s digital dream, the damage is already done.
“I voted for him. I believed in him,” said Texas retiree Patricia Long, 68. “Now I’ve lost everything. And he’s flying off in helicopters.”
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LOL May these fools who refuse to see the criminality of this entire administration … and the vile things done to children throughout the years … reap what they have sown!
Most terminally ignorant people try to hide that malady. Your comment indicates you’re an exception.
If you Listen to Trump he is not for you they are for them selfs sorry
There’s been so many crypto implosions, anyone still buying into it must be just giving money away…
trump is a pedo, mel, a whore. the entire family is a bunch of grifters, frauds & cheats. stole from st. jude’s. can no longer raise money for “charities”, legally.
Just a PONSE SCAM!!! Needs to go to JAIL!!!!
I don’t know what these people expected. You do know he’s a conflicted criminal. The faster we can get him out of office the better. But I’m not confident with Vance either. Let’s put it this way we are screwed till next election. Let’s hope everyone uses their common sense.
I hope that Congress passes a law that NO US TREASURY, SOCIAL SECURITY TRUST FUNDS, ETC EVER be invested in Crypto instruments of any kind! I also hope that all Congresspeople, & other Federal officials at positions with salaries over $200,000 per year be forbidden to engage in any direct financial matters on their private accounts. They can use blind trusts like ethical public servants did for decades, until this band of robbers came to Washington DC!!
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