Trump Media Or Trump Coin: Where Have Investors Lost More Money Since The 47th President Entered The White House?
TRUMP Coin (CRYPTO: TRUMP) and Trump Media & Technology Group Corp. (NASDAQ:DJT) which zoomed after President Donald Trump‘s swearing-in ceremony on Martin Luther King Day have significantly eroded investor wealth.
What Happened: TRUMP Coin, which was launched ahead of Trump’s first day in office has declined by about 40.08% according to CoinMarketCap. Whereas, DJT has fallen by 13.96% in the same period, according to Benzinga Pro.
Trump coin’s current volume stood at 2.15 billion as compared to the average volume of $8.67 billion since its launch, whereas, DJT’s volume stood at 3.53 million, in comparison with the average of 20.03 million.
Why It Matters: Trump coin’s decline highlights the volatility of meme coins, particularly those tied to celebrities. Launched before Trump’s presidential inauguration, TRUMP briefly reached a fully diluted valuation of $75 billion but has since dropped 76%, now valued at $17.81 billion. Despite offering some utility, such as for purchasing Trump-branded merchandise, its price fluctuations have largely been influenced by broader market trends.
Furthermore, DJT is broadening its reach into financial services with the introduction of Truth.Fi, is a fintech division designed to create investment opportunities with a focus on crypto.
The company’s board has approved a financial plan that involves allocating up to $250 million of its $700 million cash reserves into various financial instruments, such as customized exchange-traded funds (ETFs), separately managed accounts (SMAs), and Bitcoin.
CEO Devin Nunes, is positioning Truth.Fi as a financial arm of its media network, which already includes Truth Social and the streaming platform Truth+.
The company intends to develop investment products centered on America-first industries, targeting growth sectors, manufacturing, energy, as well as crypto and blockchain-related assets.
Photo Courtesy: Shutterstock.com
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