A President “Cash-Grabbing” the Market? Trump Coin Plunges 94% in One Year

A cryptocurrency launched under the personal endorsement of former U.S. President Donald Trump has suffered a dramatic collapse, with its value plunging more than 90% from its peak. Investors who bought in near the highs are now facing severe losses.

In January last year, on the eve of his inauguration, Trump introduced a meme-based cryptocurrency known as Trump Coin. Fueled by intense market speculation, the token briefly surged from USD 1.20 to an all-time high of USD 75.35. That rally, however, proved short-lived. Trump Coin is currently trading at approximately USD 4.96, representing a staggering 94% decline from its peak.

(Trump Coin weekly chart, latest price: USD 4.96)

Shortly after the launch of Trump Coin, First Lady Melania Trump followed suit with her own meme token. The performance of that asset has been even more severe: its price has collapsed from a peak of USD 13.73 to around USD 0.15, marking a nearly 99% drop.

(Melania Coin weekly chart, latest price: USD 0.1542)

According to a prior investigation by the Financial Times, cryptocurrency-related ventures linked to the Trump family have generated more than USD 1 billion in pre-tax profits. These projects have drawn sharp criticism from crypto industry insiders, governance experts, and Democratic lawmakers, who argue that they resemble rapid wealth-extraction schemes and potentially represent an abuse of political influence.

Meme Coin Mania Fades

Investor enthusiasm for meme coins reached its height in late 2023 and early 2024. These highly volatile tokens can be issued by virtually anyone online and typically lack intrinsic value, viable business models, or cash flow. Instead, their appeal relies heavily on popularity, viral moments, and associations with high-profile public figures.

Despite the steep price declines, Trump Coin remains the fifth-largest meme coin by market capitalization, according to CoinMarketCap data. Combined, Trump Coin and Melania Coin have generated approximately USD 427 million in sales revenue and trading fees, though the precise allocation of profits has not been publicly disclosed.

Meanwhile, the Trump Organization has shifted its focus toward other digital asset initiatives. Trump Media & Technology Group, the Trump family–controlled company behind the Truth Social platform, announced plans to issue a new cryptocurrency token to shareholders on February 2, as part of a partnership agreement with crypto exchange Crypto.com.

Growing Concerns Over Conflicts of Interest

Since returning to the White House, Trump has positioned himself as a strong advocate for the cryptocurrency industry. He has appointed pro-crypto regulators and granted pardons to certain individuals convicted of crypto-related offenses. At the same time, Trump and his family have expanded their involvement in multiple crypto ventures.

Governance experts in the United States have warned that the landmark legislation currently being drafted in Washington to regulate the crypto market structure must include robust safeguards to prevent conflicts of interest at the highest levels of government.

Last week, several watchdog organizations—including Democracy Defenders Action and the Project on Government Oversight—sent a joint letter to the U.S. Senate urging lawmakers to prohibit the president and senior officials from holding or trading cryptocurrencies.

Without such restrictions, the groups warned, the system “could be exploited by those in power, exposing ordinary investors to fraud, manipulation, and abuse,” explicitly referencing the Trump family’s growing portfolio of crypto-related businesses.