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24/11/25 01:17 UTC-04

Crypto Market Decline Hit Donald Trump’s Wealth

Trump’s fortune increased by $3 billion from September to September, allowing the politician to take the 201st place on Forbes’ list of the 400 richest people in the United States. The growth was driven by the Trump family’s investments in cryptocurrency, the magazine writes.

In January, Trump Media announced the launch of its Truth.Fi division and $250 million in investments in traditional and digital assets, including cryptocurrency-related securities. At the end of May, Trump Media reported that it had raised $2.5 billion for its own bitcoin reserve. For these investments, the company signed agreements with 50 corporate investors to sell its securities. Crypto.com and Anchorage Digital were selected as cryptocurrency custody providers.

Trump Media CEO and Chairman Devin Nunes said that Trump’s company plans to use the first cryptocurrency as protection against “financial institution discrimination.”

Trump Media and Technology Group was founded by Trump in February 2021. In March 2024, TMTG went public after merging with Digital World Acquisition Corp and soon debuted on the Nasdaq stock exchange. Later, Trump transferred his 58% stake in Trump Media to a trust controlled by his son, Donald Trump Jr.

Earlier, representatives of 65 organizations working with digital assets — including Solana Policy Institute, Blockchain Association, Block, Pantera, Wintermute, Skybridge, and Uniswap Labs — urged Trump to immediately instruct federal agencies to clarify cryptocurrency regulation and taxation rules.

See also: "Strategy shares may be removed from major stock indices"

#Trump #Crypto Market

Editor: Yulia Krasnaya
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