Trump Crypto Ventures Sinking as Dems Prepare Inquiries

Crypto assets tied to President Trump are taking a drubbing—and the political forecast suggests things are only going to get worse. After Democrats captured both chambers of Congress in last week's midterms, Trump-linked tokens TRUMP, MELANIA, and World Liberty Financial's WLFI all slid to record lows, while shares of Trump Media (DJT) and miner American Bitcoin (ABTC) also sank, reports Gizmodo. The selloff comes as Sen. Elizabeth Warren, who is both the likely incoming head of the Senate Banking Committee and a longtime crypto critic, prepares to wield her new subpoena power.

"You're going to see a lot of investigations," Brian Gardner, a policy strategist at Stifel, tells

. That extends beyond cryptocurrency: Warren and other Democrats have already fired off letters to regulators over conflict-of-interest, consumer protection, and national security concerns, while key committee chairs-in-waiting are signaling subpoenas, document holds, and public hearings ahead. A separate

back in June came to a stark conclusion about Trump-related crypto ventures: "The Trump family has made $2.3 billion from crypto with little-to-no downside risk, while other investors have lost $2.3 billion, including paper losses, as of the end of April."