Trump's Cryptocurrency Drops 18%, Democrats Prepare Research

The Republicans' election defeat also affects President Donald Trump financially. While the US stock markets and many crypto currencies are rising on Wednesday, his own investments are under heavy pressure.

The share of his media company has fallen to a historic low and his own cryptocurrency lost more than 18 percent. Investors fear that the Democratic majority in Congress will lead to tougher investigations into the business interests of Trump and his family.

Trump Media & Technology Group, Truth Social's parent company, took a big hit on Wall Street on Wednesday. The price fell to $4.78, the lowest level ever. As a result, the share lost almost 20 percent of its value after the election result.

Official Trump (TRUMP), the president's memecoin, also went down sharply. The cryptocurrency fell by more than 18 percent within 24 hours.

The contrast with the rest of the market is great. Bitcoin and other cryptocurrencies, on the other hand, posted solid gains, while the US stock markets also recovered from a troubled election night.

The price declines hit a significant part of Trump's assets. According to the Bloomberg Billionaires Index, his stake in Trump Media is worth about $600 million. His interests around the TRUMP-memecoin also represent around 83 million dollars.

Trump holds his shares in the media company through a trust managed by his eldest son, Donald Trump Jr.

The price pressure comes at a time when Trump is also facing more political opposition. The Democrats have captured both the House of Representatives and the Senate, allowing them to conduct more extensive investigations into possible conflicts of interest surrounding the president and his family.

That intention has been alive within the party for some time. Robert Garcia, who is expected to chair the House of Representatives Committee of Inquiry, reacted strikingly sharply to the election results on Tuesday night. On social media, he wrote: ‘LAWYER UP’, in other words: make sure you have a lawyer.

Under the leadership of the Democrats, the committee can request documents and call witnesses. In addition, Trump's crypto projects can also be investigated, which have previously raised questions about possible conflicts of interest.

The White House has consistently denied those allegations and emphasized that there is no conflict of interest.

Corruption was also an important issue for American voters. A Fox News poll showed that sixty percent were seriously concerned about corruption within the government. A Gallup survey found that 89 percent of Americans consider government corruption to be widespread, the highest rate in twenty years.