Trump family's crypto holdings shed US$1 bln in market plunge, Eric Trump sees buying chance

The Trump family's fortune has shrunk by about US$1 billion (HK$7.8 billion) since September as a massive cryptocurrency market retreat wiped out gains from their expanding digital asset portfolio, according to Bloomberg Billionaires Index calculations.

The US president's family saw their combined wealth decline to about US$6.7 billion from US$7.7 billion two months earlier, tracking a broader crypto sell-off that erased over US$1 trillion from the digital asset market.

The downturn hit multiple Trump-linked ventures: their cryptocurrency enterprise World Liberty Financial reported roughly US$3 billion in paper losses, Trump Media & Technology Group shares plummeted to record lows last week, Trump-themed meme coins lost nearly US$120 million, and Eric Trump's American Bitcoin Corp sustained at least US$330 million in losses.

Despite the setbacks, Eric Trump told Bloomberg the family remains bullish on digital assets. "This is a fantastic buying opportunity," he said in a statement.

"Those who buy the dip and embrace the volatility will be the ultimate winners. I have never been more bullish on the future of cryptocurrency and the modernization of our financial system."