Former U.S. President Donald Trump has experienced a significant downturn in his cryptocurrency portfolio, losing a whopping $19.27 million over the past three months. This revelation comes from blockchain intelligence firm Arkham, which tracks the movement of digital assets.
As of September 13th, Trump’s total crypto holdings are valued at a mere $5,868,659.51, a stark contrast to the $25.16 million recorded on June 6th. This represents a staggering 76.6% decrease in just three months.
This news comes at a crucial moment for Trump, as he and his family are set to launch their highly anticipated and controversial cryptocurrency project, World Liberty Financial, on September 16th. The announcement of this venture has sent ripples through both political and financial circles, raising eyebrows and sparking debate. In a video posted on his social media platform, Trump declared, “We’re embracing the future with crypto and leaving the slow and outdated big banks behind,” signaling a dramatic shift from his previous stance on digital currencies.
Trump’s portfolio consists of a diverse range of cryptocurrencies, with the MAGA Memecoin TRUMP/USD token leading at $1.41 million, followed closely by Ethereum ETH/USD at $1.19 million. Other significant holdings include GUA/USD, Wrapped Ethereum WETH/USD, TROG TROG/USD, USD Coin USDC/USD, MAGAA MAGAA/USD, and CONAN CONAN/USD. However, it was the TROG and TRUMP tokens that suffered the most substantial losses, plummeting by 95.73% and 79.24% respectively. Ethereum and Wrapped Ethereum also experienced considerable drops of around 35-36%.
This recent shift in Trump’s stance on cryptocurrencies aligns with his growing advocacy for digital currencies to be “made in the USA.” He’s increasingly vocal about the need to counter China’s growing influence in the field, a stark contrast to his earlier characterization of Bitcoin as a “scam” and a “disaster waiting to happen.”
Trump’s evolving position on crypto reflects a broader strategy to position the U.S. as a leader in emerging technologies. This move has garnered support from the crypto industry and stands in sharp contrast to the Biden administration’s regulatory approach.
The future of digital assets remains a topic of intense speculation and discussion. Benzinga’s upcoming Future of Digital Assets event on November 19th will bring together industry leaders to discuss the latest trends, regulations, and the potential trajectory of cryptocurrencies.
