#Trump Family Crypto Project Loses Money#
Hot Topic Overview
Overview
The Trump family's crypto project, World Liberty Financial (WLFI), spent $220 million on seven tokens, including ETH, WBTC, AAVE, LINK, TRX, and ENA. Currently, the total unrealized loss is $9.4 million. While Trump did not mention cryptocurrency in his inaugural address, his family project has been continuously buying crypto assets, attracting market attention. However, the Trump family project's operations in the crypto market have sparked controversy. Critics accuse Trump of using his position to benefit his family and call meme coins a scam. Additionally, the Trump family crypto project faces risks from market volatility, and its future development remains uncertain.
Ace Hot Topic Analysis
Analysis
World Liberty Financial (WLFI), a crypto project backed by the Trump family, spent $220 million on seven tokens, including ETH, WBTC, AAVE, LINK, TRX, and ENA, after Trump took office as president. However, these tokens are currently all in the red, with a total unrealized loss of $9.4 million. While Trump didn't mention cryptocurrencies in his inaugural address, his family's large-scale purchase, along with his appointment of pro-crypto Caroline Pham as the Acting Chair of the CFTC, were seen as bullish for the crypto market. Nevertheless, the meme coins "Trump" and "Melania" issued by the Trump family have performed poorly, with prices plummeting, leading to market speculation about whether the project is a "rug pull." Overall, the impact of Trump's presidency on the crypto market remains unclear, with volatile market sentiment. Investors should be cautious in their investments.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Trump family's cryptocurrency project WLFI spent a huge amount of money to buy various cryptocurrencies on the day of Trump's inauguration, but is currently losing money.
The investment strategy of Trump family's cryptocurrency project WLFI has sparked controversy, with some believing that it is using Trump's position to hype and may harm the cryptocurrency market.
Trump's inaugural speech did not mention cryptocurrency, leading to market expectations being dashed and a correction in the cryptocurrency market.
Although Trump's inaugural speech did not mention cryptocurrency, the investment behavior of his family project WLFI and their attitude towards the cryptocurrency market are still seen as positive signals by some.