Trump Trade Falters as Tariffs and Volatility Drag Down Politically-Themed Assets
The Trump Trade, once a hot thesis in both stock and crypto markets, has collapsed under its own weight. Assets tied to Donald Trump's political brand and policy agenda have plummeted across the board.
One of these assets is the $TRUMP token, which has lost a staggering 97-98% of its value since reaching a peak of $73-$75 in January 2025. Other Trump-affiliated ventures, including World Liberty Financial tokens and American Bitcoin, have also suffered significant declines, shedding 82% and 95-97%, respectively.
The downturn can be attributed to the very policies that were supposed to benefit Trump-aligned investments: tariffs and escalating trade disputes introduced persistent volatility across equity markets in 2025. This volatility dragged down broad market sentiment, causing a loss of enthusiasm for politically themed crypto assets.