The crash Tuesday in the crypto miner American Bitcoin Corp. was instantaneous. At 9:31 a.m. on Wall Street, just one minute after trading started, its shares were down 33%. Five minutes later, losses had ballooned to 42% and then, by 9:56 a.m., to more than 50%.It was all so spectacular that American Bitcoin quickly became the symbol of not just the crypto market wipeout of late 2025 but also the collapse of the myriad ventures that the Trump family has been promoting in the digital-currency world over the past year. For as much as broader crypto markets have sunk these past two months — roughly 25% in the case of bellwether Bitcoin — projects that are tied to the Trump family are down far, far more. World Liberty Financial, co-founded by President Donald Trump and his sons, has seen its WLFI token tumble 51% from its peak in early September, more than both Bitcoin and an index of smaller digital tokens. Alt5 Sigma, a company promoted by the Trump sons, has plunged around 75% as it deals with a growing number of legal problems.
Then there are the memecoins named after the president and his wife, Melania, which have fallen around 90% and 99% respectively from their record highs back in January. American Bitcoin, which was co-founded by Eric Trump, is now down 75% after the big drop on Tuesday. It rose 11% in US pre-market trading on Wednesday.
Trump-Crypto Premium Disappears
The Trump family’s crypto plays have fallen sharper than actual token prices
These moves have put a big dent in the huge piles of crypto wealth that the first family amassed earlier in the year. But they also carry a broader significance for both the digital asset industry and the president’s public image. Trump’s embrace helped boost a wide array of crypto tokens during the early months of his second term and turned the price of Bitcoin into a marker of his political success.

These projects were all helped by policies and regulatory changes that Trump promoted, led by legislation that aimed to bring crypto stablecoins, tied to the value of the dollar, into the mainstream. But the signs of trouble have been mounting over time. The memecoins that were launched right before the inauguration, with lots of promotional muscle from Trump himself, have steadily lost money over time, with just occasional moments of relief, like the rally in April after the president offered to join some of the biggest holders of the coin for dinner.
