FX168 Financial News Agency (Asia Pacific) reported that the personal assets of former US President and Republican presidential candidate Donald Trump have shrunk to less than US$4.7 billion, falling out of the top 500 of the world's richest list. In this week's televised debate with Vice President and Democratic presidential candidate Kamala Harris, Trump was considered to be at a disadvantage, and his winning rate in November was surpassed by Harris, causing the MAGA (TRUMP) meme currency to plummet by more than 20% in a single week.
Trump's media group Trump Media recorded a 6.92% drop in 5 days, closing at US$16.08 on Thursday (September 12), and fell 33.05% in the past month, with a very weak trend.
Source: Trading View
According to CNN, Trump's personal net worth has shrunk to less than $4.7 billion, falling out of the top 500 on Bloomberg's Global Rich List.
Source: CNN
In this regard, Matthew Tuttle, CEO of Tuttle Capital Management, said that in fact, the stock price of Trump Media was overvalued by the market. If it were not for Trump, its price might be only $1. He said: "If it were not for Trump, this thing would be traded at $1."
Trump and Harris did not mention Bitcoin and cryptocurrency policies in the TV debate this week.
Foreign media generally believe that in this head-on confrontation between Trump and Harris, the latter has the upper hand.
After the debate, American pop music queen Taylor Swift publicly stated on Instagram that she would support Harris as the next US president.
According to Polymarket, a large cryptocurrency betting platform, Trump's winning rate in November has dropped sharply from 72% at the time of the attempted shooting to 49%.
After being considered at a disadvantage in the TV debate, Trump's chances of winning even fell behind Harris, whose chances rose to 50%.
Source: CoinMarketCap
The crypto community also reacted, with Trump-related MAGA meme coins plummeting more than 20% in a single week, falling to $2.43 in Asian trading on Friday.
Source: CoinMarketCap
According to CryptoSlate, Trump announced in a live broadcast that his family’s new decentralized finance (DeFi) project World Liberty Financial (WLFI) will be officially launched next week on September 16.
Source: CryptoSlate
"We are embracing the future with cryptocurrencies, leaving the slow, outdated big banks behind," Trump said.
The Trump family, including his sons Eric Trump and Donald Trump Jr., continue to be involved in the development of WLFI, playing a key role in the project's direction and strategy.
WLFI aims to promote the use of stablecoins pegged to the US dollar, with a focus on maintaining the dollar's position in global financial markets. The project has partnered with Aave to develop tools and infrastructure that will drive stablecoin adoption in various sectors.
The core mission of WLFI is to use stablecoins to ensure that the US dollar remains the dominant currency for global trade and settlement. In an earlier statement, the project outlined its vision to combat the growing influence of foreign currencies in global markets.
According to the project's statement, stablecoins can help the US dollar remain a global financial leader for the foreseeable future. WLFI aims to provide an alternative to emerging digital currencies from foreign countries by promoting the adoption of stablecoins pegged to the United States.
It was revealed that 70% of Trump-backed World Liberty Financial governance token will be controlled by insiders. This prompts the question: Is it fair for such a large share of power to be held by a few?
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