Trump family's crypto holdings fall by $1B amid market downturn

The Trump family's cryptocurrency holdings have lost approximately $1 billion in value since early September amid the recent market downturn, Bloomberg reported. According to the Bloomberg Billionaires Index, the family's assets have decreased from $7.7 billion to their current level of $6.7 billion. The losses include an estimated $800 million from Trump Media, $330 million from American Bitcoin, and $120 million from the TRUMP memecoin. Trump Media's significant losses are reportedly linked to its holdings of spot and options contracts for BTC and Crypto.com (CRO). Despite the decline, Bloomberg noted that the family has financial cushions that may place them in a better position than other investors. Their DeFi project, World Liberty Financial (WLFI), guarantees them a portion of token sale revenue, and the family has already cashed out approximately $900 million from these sales. Meanwhile, President Donald Trump's second son, Eric Trump, has described the current market conditions as a buying opportunity.