Bitcoin News Update: Bitcoin's Plunge Signals Trump's Diminishing Influence, as Crypto Connections Weaken Amid MAGA's Downturn
- Nobel laureate Paul Krugman links Bitcoin's $1 trillion crash to Trump's waning political influence and crypto-linked wealth decline. - Trump family's crypto assets lost $1 billion in value, with Eric Trump's ABTC shares down 50% and memecoins losing 90% of peak value. - Despite losses, complex financial structures like Alt5 Sigma holdings buffer the family, while Krugman ties crypto turmoil to fractured MAGA support. - Trump's pro-crypto policies face scrutiny as Bitcoin's $40k drop undermines his econo
The
The Trump family's involvement in crypto has made them especially susceptible to the downturn. Their net worth, which
Eric Trump has remained optimistic, calling Bitcoin "the greatest asset of our time" at a Yahoo Finance event, even as American Bitcoin’s stock has fallen 30% since its Nasdaq launch in September. The company, which mines Bitcoin in West Texas at half the average market cost,
Krugman’s commentary connects the crypto downturn to larger political shifts. Trump’s approval rating has
The recent chaos in the crypto sector has also highlighted weaknesses in Trump’s economic policies. Treasury Secretary Scott Bessent
As the Trump family deals with their crypto setbacks, the political consequences are evident: a market once lifted by Trump’s backing is now suffering from his waning influence. Whether this marks a deeper change in the GOP or is simply part of the crypto cycle is unclear, but Krugman’s assessment of the "Trump trade" coming undone highlights a crucial turning point in both the financial and political arenas.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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