Trump Tokens Plunge Amid Record-Low Approval Rating and Regulatory Scrutiny
Crypto tokens associated with President Donald Trump have plummeted in value as his approval rating hits a record low. TRUMP, the official meme coin, dropped to $2.488, down 32% from its highest level on Saturday. Similarly, WLFI, the token behind the USD1 stablecoin ecosystem, fell to $0.057, a sharp decline from its weekend high of $0.075.
The crash coincides with a downturn in Truth Social traffic, which dropped by 22% in July to 15.89 million users. This has led to concerns that Trump's assets will lose value if he loses the election or faces investigations into his crypto empire.
Regulators are scrutinizing World Liberty Financial's national bank trust charter and ties to Binance, as well as the UAE's $2 billion cash holdings through the USD1 stablecoin. These probes could freeze growth, trigger redemptions, or force structural changes that would harm WLFI demand.