The official meme coin of US President Donald Trump, $TRUMP, slumped to a record low after the Republican Party’s defeat in the midterm elections. The token lost more than 22% this week, falling to $1,116 before a small rebound in Friday trading. Launched in early 2025 ahead of the inauguration of the 47th US president, the coin once reached a peak of $73.43 after listing but has since lost roughly 99% of its value.
The sharp sell‑off followed the Republicans’ loss of control of both chambers of Congress. With the Senate and House now under Democratic control, the White House’s ability to advance economic and legislative initiatives is at risk. Political‑exposure assets came under pressure, and the broader crypto market was also hit as traders feared tougher oversight from the incoming Congress.
Democrats have repeatedly called for stronger anti‑money‑laundering (AML) controls and tighter risk management in crypto, a stance that many in the industry view skeptically. Moreover, Democrats played a decisive role in blocking the industry bill known as the Clarity Act, while efforts to create a more favorable regulatory framework were largely driven by Republicans.