[BlockBeats] Recent data has been quite eye-catching—a certain former US president’s family has seen their wealth shrink. According to Bloomberg Billionaires Index tracking, from early September until now, the family’s total assets have dropped from $7.7 billion to $6.7 billion, evaporating $1 billion in two months.
The culprit? Their aggressive crypto investments.
The TRUMP token has dropped another quarter since August, and his son Eric’s heavily invested Bitcoin mining company, American Bitcoin (ABTC), fared even worse, with its market value halved and paper losses exceeding $300 million. Their media group TMTG, having bet $2 billion on Bitcoin and CRO, saw its equity value drop by $800 million, and the 11,500 Bitcoins they hold are down about 25%.
Most extreme is the family’s crypto project, World Liberty Financial’s WLFI token, which lost nearly $3 billion in market value from its peak.
This wave of operations serves as a lesson for the crypto community: celebrity effect can’t withstand market cycles, and the consequences of going all in at the top are just this brutal.
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A família de um ex-presidente perdeu mil milhões de dólares em dois meses, com o portefólio de investimentos em criptomoedas a colapsar completamente.
[BlockBeats] Recent data has been quite eye-catching—a certain former US president’s family has seen their wealth shrink. According to Bloomberg Billionaires Index tracking, from early September until now, the family’s total assets have dropped from $7.7 billion to $6.7 billion, evaporating $1 billion in two months.
The culprit? Their aggressive crypto investments.
The TRUMP token has dropped another quarter since August, and his son Eric’s heavily invested Bitcoin mining company, American Bitcoin (ABTC), fared even worse, with its market value halved and paper losses exceeding $300 million. Their media group TMTG, having bet $2 billion on Bitcoin and CRO, saw its equity value drop by $800 million, and the 11,500 Bitcoins they hold are down about 25%.
Most extreme is the family’s crypto project, World Liberty Financial’s WLFI token, which lost nearly $3 billion in market value from its peak.
This wave of operations serves as a lesson for the crypto community: celebrity effect can’t withstand market cycles, and the consequences of going all in at the top are just this brutal.