Trump Media stock crashes to all-time lows, wiping out $5B in First Family wealth during crypto slide

Trump Media & Technology Group, the crypto and social media company managed by members of the First Family, has seen its stock price plummet to all-time lows — wiping out more than $5 billion in wealth for the Trumps as cryptocurrencies continue their slide.

Shares of Trump Media, which trades under the ticker DJT, have fallen almost 70% this yr — 34.6% of that just the past month, according to Barron’s.

The stock was down round 1% at $10.76 in early morning trading on Wednesday, a day after it hit an intraday low of $10.32 — the lowest level since fall 2021, the publication famous.

Trump Media & Technology Group, the social media company managed by the first household, has seen its stock price plummet to all-time lows. Nathan Howard – Pool by way of CNP/Shutterstock

President Trump not directly owns round 115 million shares of the company, Barron’s reported.

The stock is being held in a trust managed by his son, Don Jr., who sits on the board.

The household’s holdings, which have been value almost $6.5 billion at their peak in mid-May 2024, have misplaced more than $5.3 billion in worth since then, according to Barron’s.

The company’s nosedive is tied to a broader meltdown in the crypto market.

Cryptocurrencies have taken a big hit since Trump Media said in August it purchased $2 billion value of Bitcoin.

Bitcoin costs on Tuesday briefly dipped below $90,000 for the first time in months — wiping out the asset’s beneficial properties for the yr.

Traders have been backing off risky assets amid diminishing hopes for an interest-rate cut next month.

Trump Media didn’t instantly reply to requests for remark.

Shares of Trump Media, which trades under the ticker DJT, have been down round 1% at $10.76 in early morning trading on Wednesday. AFP by way of Getty Images

Trump created Truth Social and its mum or dad company Trump Media & Technology Group, or TMTG, after he was banned from Twitter and Facebook following the Jan. 6, 2021, Capitol riot.

After TMTG and a blank-check firm called Digital World Acquisition Corp. announced in 2021 they’d be merging, the stock traded as high as $100 in 2022, Barron’s reported.

While the stock has cratered, the Trump household’s private crypto ventures have been raking in lots of of tens of millions of {dollars}, according to a Reuters report published last month.

The Trump Organization, which the president’s youngsters have been working while he’s in the White House, has made more than $800 million from the sale of digital belongings in the first six months of this yr alone, the news wire discovered.

The stock has fallen almost 70% this yr and 34.6% in the past month.

Since turning into president, Trump has sought to make the US the “crypto capital of the world.” Over the summer, he signed the “GENIUS Act” codifying guardrails and shopper protections geared toward boosting confidence in digital currencies.

He has also ordered the Treasury Department to not promote tokens seized in enforcement actions, exploring methods for the US to accumulate more.

The White House has denied any battle of curiosity as the Trump household goes big on crypto.

“Neither the President nor his family have ever engaged, or will ever engage, in conflicts of interest,” White House press secretary Karoline Leavitt said in a assertion.

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