US President Donald Trump is facing new scrutiny as the cryptocurrency tokens and projects he promotes plummet to record lows or remain near record lows.
The Official Trump Token (TRUMP), the meme coin promoted by President Trump, hit an all-time low of around $2.73 in March 2026 and currently trades at around $2.86, according to data from CoinGecko.
World Liberty Financial (WLFI), a decentralized finance (DeFi) platform co-founded by Trump’s sons, also issued a governance token, which fell to just $0.07 on Saturday, an all-time low.
WLFI is down about 75% from its all-time high of about $0.31, set in September 2025, while the TRUMP meme coin is down about 90% from its all-time high of over $73, set in January 2025.
“Sam Bankman Fried and Gary Gensler thought it was the worst thing to happen to the crypto industry, and they were horrified,” Professor Tonya Evans said in response to the plunge in token prices. She added:
“But in the end, it turned out that this was a man who surrounded himself with sycophants, siphoned off all the value he could for himself, and then quickly bankrupted companies and casinos without any consequences.”
President Trump also announced that he plans to hold another celebration for token holders on April 25, prompting renewed scrutiny from US Democratic lawmakers who have accused him of spreading influence by giving token holders access to other token holders.
Related: President Trump meme coin whales pile up ahead of Mar-a-Lago celebration
US lawmakers send letter to meme coin creators to Trump
Sens. Elizabeth Warren, Richard Blumenthal, and Adam Schiff recently sent a letter to Trump Memecoin founder Bill Zanker, asking for details on the purpose of the Trump Memecoin gala scheduled for April.
The lawmakers said organizers of the event had “dangling access” to President Trump, according to Politico, which obtained a copy of the letter.
Trump and his family stand to benefit from increased sales of Trump meme coins. According to the senators, attendees will need to hold TRUMP tokens to participate in the event.
magazine: President Trump’s crypto venture raises conflicts of interest and insider trading issues
