The crypto market spiraled on Friday after President Donald Trump announced new tariffs on China, losing the president millions within his crypto portfolio.
Trump announced a new 100% tariff on Chinese imports, which will take effect next month after the country targeted rare earth minerals. He called the earth mineral restrictions “unprecedented” and a “moral disgrace.”
After the announcement, Bitcoin fell nearly 8% with the global crypto market cap down about 10%.
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The stock market followed with the S&P 500 dipping 2.7%. Most large stocks saw red on Friday, like Nvidia and Advanced Micro Devices, two notable tech stocks.
Trump also saw his own investments, including his crypto portfolio, take a hit. World Liberty Financial, a crypto token belonging to a company of the same name, lost nearly a third of its value. It fell from just below 18 cents to about 13 cents.
The Trump family stake in the cryptocurrency was 22.5 billion $WLFI tokens earlier this month at 23 cents each with a valuation of around $5 billion. With the drop on Friday, the family lost about a billion dollars, bringing the new valuation to just under $3 billion.
WLF has said that the Trump family’s tokens are “locked” and cannot be sold until a vesting date that is unclear.
The Trump family also owns stakes in the $Trump and $Melania meme coins. The latter coin lost more than a third of its value, and the Trump coin went down nearly 20%. Trump companies own a large share of the $Trump coins, though it’s unclear how much $Melania coin they own.
Trump Media & Technology Group Corp., the president’s media company, fell about 8% in value.
The president also owns about $870 million in Bitcoin, though it’s unclear how much he has lost on Friday.
Trump has not indicated when the tariffs on China will end, nor has he made comments about the hit to his portfolio. He insisted that China started the latest salvo of tariffs.
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“This is not something that I … instigated. This was just a response to something that they did. And they didn’t really aim it at us. They aimed it at the whole world,” he said.
“We’ll see what happens,” he said.
, 2025-10-11 15:17:00, 
, Washington Examiner, %%https://www.washingtonexaminer.com/wp-content/uploads/2023/11/cropped-favicon.png?w=32, https://www.washingtonexaminer.com/feed/, Ross O’Keefe
