Overview
- Global crypto markets have shed trillions in value since October, with bitcoin sliding back below $70,000 and erasing gains logged after Trump’s election.
- High‑profile crypto promoters who once backed Trump, including Carl Runefelt, now publicly fault him for losses and express regret over their support.
- Reports that a wallet associated with the Trump family business sold millions of dollars in crypto deepened frustration among investors and online influencers.
- The White House rejected suggestions of conflicts of interest and defended the administration’s record, citing actions like a strategic bitcoin reserve and support for the GENIUS Act.
- Ethical and policy tensions persist as industry‑friendly legislation stalls over Democratic demands to curb Trump‑family profiteering, even as crypto‑aligned PACs prepare heavy spending with uncertain electoral impact.