The Official Trump (TRUMP) token has fallen by over 15% in the past 24 hours and is currently trading at around $1.27. According to CoinGecko, the token hit a new all time low of $1.22 after
The Official Trump (TRUMP) token has fallen by over 15% in the past 24 hours and is currently trading at around $1.27. According to CoinGecko, the token hit a new all time low of $1.22 after Democrats took control of both chambers of Congress in the US midterms.
The selling pressure accelerated yesterday as the results came through. Within a matter of hours, Democrats lined up to take over key committees said they would investigate Trump’s family’s crypto business, and traders have started pricing in what that could mean.
Apart from the TRUMP Coin, yesterday’s results and the subsequent news on the crypto probe have put a lot of pressure on other assets tied to the family. World Liberty Financial’s WLFI token dropped by around 6% yesterday while the MELANIA token saw a nearly 13% decline. Trump Media & Technology Group, the parent company of Truth Social, also hit an all-time low of $5.03 and DJTU, a leveraged ETF on the stock, fell 32%.
The rest of the market moved in the opposite direction with Bitcoin climbing back above $80K and the total crypto market cap rising by more than 3%. The news has triggered a contagion across Trump assets.
Rep. Jamie Raskin, set to lead the House Judiciary Committee, has stated plans to look into alleged self-dealing in Trump’s crypto ventures as well as presidential pardons granted to specific donors and law firms. Rep. Robert Garcia, who is expected to chair the House Oversight Committee, also plans to investigate Trump’s crypto businesses and associates. On election night, he kept his message short with a two word statement: “Lawyer up.” Meanwhile Sen. Elizabeth Warren, who is in line to chair the Senate Banking Committee has stated that she would thoroughly investigate the family’s crypto business as well.
In January 2025, Aryam Investment 1, an Abu Dhabi entity backed by Sheikh Tahnoon bin Zayed Al Nahyan, agreed to buy an undisclosed 49% stake in the company for $500 million. Executives from G42 took seats on World Liberty’s board as part of the deal, making Aryam its largest outside shareholder.
Weeks before the US and UAE announced their AI chip framework, MGX, another Tahnoon-led firm, used World Liberty’s USD1 stablecoin to complete a $2 billion investment into Binance. Democrats see that sequence as a national security problem. The pardon of Binance founder Changpeng Zhao is also on their list.
TRUMP has its own baggage. Sen. Richard Blumenthal’s 2025 letter pointed to pump-and-dump style price swings and alleged that a small group of insiders profited heavily from the launch. That letter followed Fight Fight Fight’s promotion of a private dinner with the president for top holders.
Reuters estimates the family has made at least $2.3 billion from crypto since the inauguration. World Liberty accounts for more than $1.4 billion of that and the memecoin another $616 million. Investor losses come to roughly the same amount.
For two years, Democrats have written letters that carried no legal weight. That changes when the 120th Congress convenes in January 2027 and committee chairs gain the authority to compel testimony and documents. The first move is expected to be an oversight hearing on the full extent of Trump’s crypto dealings.
Democrats expect the administration to lean on executive privilege, as it did during Trump’s first term. Their plan is to skip the White House and subpoena the private entities instead. World Liberty, Fight Fight Fight and other family-linked companies would be the ones handing over records.
Price swings were always part of holding TRUMP or WLFI. Documents showing who bought these tokens and when they bought them could soon become public as well.
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