Bloomberg: The Trump family's encryption assets have fallen by over 90%, with a decline that far exceeds the broader market.

According to ChainCatcher news and Bloomberg reports, the encryption project promoted by the Trump family has suffered a heavy blow, with a fall far exceeding that of mainstream assets like Bitcoin. On Tuesday, the encryption mining company American Bitcoin, co-founded by Eric Trump, experienced a big dump of 50% in one day, accumulating a decline of 75% from its peak. President Trump and his son's jointly founded World Liberty Financial token WLFI has fallen 51% from its early September peak; Alt5 Sigma, promoted by Trump's son, has plummeted about 75%; the memecoins named after the president and his wife Melania have dropped about 90% and 99% from their January highs, respectively. In contrast, Bitcoin has only fallen about 25% during the same period. Hilary Allen, a law professor at American University, pointed out that the encryption project launched by the Trump family rapidly depreciated, failing to bring the expected legitimacy to the industry. The collapse of these projects has caused the Trump family's wealth to shrink by over 1 billion dollars and shaken the market's confidence in both encryption assets and the president himself.