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Trump Media & Technology Group, the crypto and social media company controlled 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 nearly 70% this year — 34.6% of that just the past month, according to Barron’s.
The stock was down around 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 noted.
President Trump indirectly owns around 115 million shares of the company, Barron’s reported.
The stock is being held in a trust controlled by his son, Don Jr., who sits on the board.
The family’s holdings, which were worth nearly $6.5 billion at their peak in mid-May 2024, have lost more than $5.3 billion in value 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 bought $2 billion worth of Bitcoin.
Bitcoin prices on Tuesday briefly dipped below $90,000 for the first time in months — wiping out the asset’s gains for the year.
Traders have been backing off risky assets amid diminishing hopes for an interest-rate cut next month.
Trump Media didn’t immediately respond to requests for comment.
Trump created Truth Social and its parent 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 would be merging, the stock traded as high as $100 in 2022, Barron’s reported.
While the stock has cratered, the Trump family’s personal crypto ventures have been raking in hundreds of millions of dollars, according to a Reuters report published last month.
The Trump Organization, which the president’s children have been running while he is in the White House, has made more than $800 million from the sale of digital assets in the first six months of this year alone, the news wire found.
Since becoming 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 consumer protections aimed at boosting confidence in digital currencies.
He has also ordered the Treasury Department not to sell tokens seized in enforcement actions, exploring ways for the US to acquire more.
The White House has denied any conflict of interest as the Trump family 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 statement.
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