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Trump-linked crypto tokens drop after Democrats win both chambers of Congress

Trump-linked crypto tokens led losses in digital assets after Democrats took both chambers of Congress in the November 3 midterms. The result also raises questions about future crypto rules for investors.

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Photo: Martin Falbisoner, CC BY-SA 3.0, via Wikimedia Commons

Crypto ·

Tokens linked to President Donald Trump led losses across the crypto market after Democrats won control of both chambers of Congress. The result came in the midterm elections held on November 3.

Crypto

The Official Trump token, a memecoin, fell about 17% in 24 hours to $1.33. A memecoin is a crypto token built around a theme or a personality rather than a specific use.

In numbers

  • -17%Official Trump token, 24 hours
  • $1.33Official Trump token price
  • -7%WLFI token drop

Crypto

The WLFI token from World Liberty Financial dropped more than 7% to around $0.047. A token tied to Melania Trump, called MELANIA, was also part of the group of losers.

The material available on this story does not give more detail on the wider stock and energy market moves, or on what the new Congress will do about crypto rules.

Trump-linked token moves

  • Official Trump17 %
  • WLFI7 %

Approximate 24-hour declines as stated for each token, in percent.

Who is who

  • Donald TrumpUS president
  • Melania TrumpFirst lady, linked to MELANIA token

Background

Memecoins are crypto tokens that rely on a theme or a public figure, and their prices can swing sharply in a day.

Where
United States
Published
Section
Crypto

This article is not investment advice. It was written by our automated newsroom from published reports and official statements, using only the facts in them, and not read by a person before it was published. Report a mistake
Photo: Martin Falbisoner, CC BY-SA 3.0, via Wikimedia Commons

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