Trump Family Meme Coins Plunge Together
Individual Investors Suffer Losses While Family Secures Profits
Virtual Asset Business Continues Despite Conflict of Interest Controversy
The price of the coin launched by the family of U.S. President Donald Trump has plummeted by more than 90% in just one year. Observers note that the frenzy surrounding Trump-related meme coins, which soared on political symbolism and publicity, is rapidly fading. This sharp decline has reignited controversy over the Trump family's entire virtual asset business. Criticism has mounted that the business stoked speculative demand without a clear business model, and there are growing concerns that a virtual asset business directly involving the sitting president's family is exacerbating structural conflicts of interest.
Meme Coin Craze Cools Off... Trump Coin Plunges 93% in One Year
According to CoinMarketCap on January 22, the $TRUMP meme coin was trading at $4.94 (about 7,300 won) as of the morning of the same day. This coin, launched in January last year ahead of President Trump's inauguration, soared to $75.35 (about 107,500 won) on January 19 of that year, but has since fallen by approximately 93%.
The situation is not much different for the $MELANIA coin issued by First Lady Melania Trump. The price, which climbed to $13.73 (about 20,120 won) on January 20 last year, has now dropped to around $0.15 (about 220 won), plunging about 99% from its peak.
In this regard, the Financial Times (FT) analyzed on January 21 (local time), "With investors who bought at the peak suffering massive losses, criticism of President Trump's virtual asset business is expected to intensify."
Pro-Cryptocurrency Stance Fuels Conflict of Interest Controversy
At the center of the controversy is President Trump's pro-virtual asset policy stance. Since his election, President Trump has appointed pro-cryptocurrency figures to regulatory agencies and pardoned individuals convicted of related crimes, maintaining a favorable approach to the virtual asset industry.
At the same time, the direct involvement of his family in meme coin and virtual asset platform businesses has further amplified the conflict of interest controversy. Recently, civic groups such as Democracy Protection Action and Government Oversight Project sent a letter to the Senate, urging that provisions restricting the holding and trading of virtual assets by the president and high-ranking officials be included in related legislation.
These groups pointed out, "It is structurally risky for policymakers to directly regulate markets in which they have vested interests," and stressed, "Clear institutional safeguards are needed to restore trust in the virtual asset market."
Individual Investors Lose, but Trump Family's Assets Grow
Despite the sharp drop in coin prices, the Trump family has reportedly earned substantial profits from its virtual asset business. According to FT's analysis, the Trump family is estimated to have earned over $1 billion (about 1.46 trillion won) before taxes from virtual asset-related businesses.
Of this, revenue from sales and transaction fees generated by the $TRUMP and $MELANIA coins alone is estimated to be about $427 million (about 600 billion won). This profit structure has drawn repeated criticism for potential abuse of power, as it raises concerns that virtual assets issued by the president and his family could be used as a means of personal profit, leading to conflicts of interest.
Business Continues Despite the Controversy
Despite ongoing criticism, the Trump family is not halting its virtual asset business. Trump Media & Technology Group, which operates President Trump's social media platform "Truth Social," is preparing to issue a new token through a partnership with the exchange Crypto.com.
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