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Trump’s Crypto Empire Is Crashing, and His Followers Are Paying the Price

By
Paul Ugbede Godwin
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0

President Donald Trump’s family has aggressively expanded into digital assets since his 2024 reelection, dubbing him the “first crypto president.”

This push fueled a massive rally—Bitcoin surged to $126,000 in October—but a sharp market reversal has erased trillions globally, hitting Trump-linked projects hard.

While the family has still netted billions overall, the downturn has wiped out roughly $1 billion from their collective fortune and devastated retail investors, many of whom are Trump supporters who piled in on hype from his inner circle.

The Rise of the Trump Crypto Empire

Trump’s family didn’t just dip a toe—they dove headfirst into crypto, leveraging the president’s pro-industry stance. Key ventures include: The $TRUMP token launched in early 2025, quickly followed by a similar one tied to Melania Trump. These speculative assets exploded on election euphoria, with $TRUMP hitting $9.49 in November.

World Liberty Financial (WLFI): A Trump-backed DeFi platform that debuted tokens trading on exchanges. The family reportedly earned ~$400 million from initial sales, with holdings peaking at $6 billion now locked and illiquid.

American Bitcoin Corp. (ABTC): Backed by Eric and Donald Trump Jr., this mining firm went public on Nasdaq in September at a $5 billion valuation. Eric Trump has been vocal, urging buys during dips.

Trump Media & Technology Group (TMTG): Truth Social’s parent company shifted to a “crypto treasury strategy,” investing ~$2 billion in Bitcoin 11,500 BTC at ~$115,000 each. At its height, crypto made up 73% of Trump’s estimated wealth, per watchdog groups like Accountable.US—up from 37% in April 2025.

The family reportedly generated $800 million in crypto sales income in the first half of the year alone, with total holdings valued at up to $11.6 billion. The party ended abruptly in October 2025, triggered by a “flash crash” on October 10 after Trump announced renewed 100% tariffs on China via Truth Social.

This sparked a risk-off panic, Bitcoin plunged From $126,000 October peak to below $82,000 November low, a 32-35% drop. It’s since rebounded to ~$88,000 but remains volatile. The crypto market shed $1.2 trillion in value over a month, with $19 billion in liquidations on October 10 alone 1.6 million positions nuked, per CoinGlass.

Altcoins and memes fared worse—Dogecoin down 50%, many alts 50-80%. $TRUMP memecoin: down 25-35% from peaks, erasing ~$117 million from family-linked holdings. WLFI tokens fell from $6 billion to $3.15 billion valuation.

ABTC shares halved from peak, down amid mining sector woes. TMTG stock crashed 70% YTD to all-time lows, partly due to its Bitcoin bet now underwater by 25%. Bloomberg’s Billionaires Index pegs the family’s net worth drop at $1 billion since September from $7.7 billion to $6.7 billion, almost entirely crypto-driven.

A House Judiciary Democrats report calls it a “new age of corruption,” alleging self-dealing with foreign actors (e.g., North Korea/Russia-linked wallets buying tokens) and policy favors for donors.

The real sting is for everyday investors—many MAGA die-hards—who bought the hype via Eric Trump’s X promotions or Truth Social buzz. The $TRUMP coin alone inflicted $12 billion in collective losses on holders, with insiders pocketing ~$100 million in fees per on-chain analysis.

One viral X post highlighted a “Trump insider” liquidated for $45 million after a 100% win streak, but that’s dwarfed by small investors wiped out. October’s crash liquidated overleveraged positions up to 25x, with exchanges like Binance/Bybit freezing orders amid “technical issues” and oracle misfires.

Rumors swirl of coordinated shorts like a whale profiting $160-200M with insider timing on Trump’s tariff tweet. Posts rage about betrayal—”Trump hates you all” or “his cult holding the bag with a collective 12 BILLION DOLLAR LOSS.”

Some blame manipulation targeting Trump’s ecosystem— JPMorgan/MSCI pressure on MicroStrategy. Others see it as volatility: “Crypto is here to stay,” per WLFI spokespeople. Critics like economist Paul Krugman tie the crash to “unraveling Trump trade”—waning political momentum amid tariff chaos and AI bubble fears.

Supporters counter it’s a “stress test” for the bull run ahead. Crypto’s wild swings aren’t new—remember 2022’s FTX collapse? Trump’s ventures amplified the boom and bust via his platform’s reach, but they’ve also drawn scrutiny: frozen wallets, foreign influence, and emoluments clause lawsuits.

Eric Trump urges buying dips “if you can’t handle the volatility”, betting on long-term maturation. The family remains enormously richer—up billions since 2024—while followers nurse wounds. It’s a stark reminder: Crypto rewards conviction but punishes FOMO.

If you’re in it, diversify; if not, watch from afar.

Why Online Card Games Are More Popular Than Ever

By
TI Partners
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0

Online card games have seen a remarkable rise in popularity. In recent years, these casino games have been enticing to players of all skill levels and backgrounds. Once a pastime enjoyed mostly at in-person tables, it has now been transformed into a global digital hobby enjoyed across devices and platforms.

Improved technology. Smarter design. More accessible gameplay. Thanks to these elements, and others, online card games now offer richer, more engaging experiences than ever before.

A World of Card Games at Your Fingertips

Variety is one of the biggest reasons for this surge in card game popularity. Players can now explore countless card games without needing a physical deck or group of friends nearby. Some of the most popular options include:

Basically, there’s something for everyone. It doesn’t matter if you enjoy strategic thinking, quick rounds, or relaxed solo play. Additionally, the digital format makes it simple to switch between games and sample different styles at your own pace.

Convenience to Fit Modern Lifestyles

Another major factor driving the rise of online card games is convenience. People have busy lives. Well, digital platforms solve many of the logistical challenges of traditional gaming. Instead of organizing a game night or visiting a casino, players can jump into a session at any time of the day, instantly.

Mobile compatibility has taken this even further. It allows for card gaming during commutes, lunch breaks, moments of downtime, and any other scenario. The convenience goes even further through the likes of quick load times and automated rule enforcement. The platform also handles all the “dirty work” like dealing and scoring.

Immersive Gameplay and Modern Features

Today’s online card games blend traditional rules with innovative digital enhancements. From smooth animations to themed tables, these additions make the experience feel more personalized and visually engaging. Plus, developers continue to experiment with unique mechanics that provide fresh twists on classic games.

Look at blackjack as an example. If you explore online blackjack with Ruby Fortune, you’ll see an assortment of titles available. These range from different themes to playstyles to suit diverse preferences. Adding to the familiar gameplay of blackjack with polished presentation and new features creates a more immersive experience overall.

Learning and Skill Development Made Easier

Online platforms also make learning easier. Built-in guides, demo modes, and strategy tools, thanks to additions such as these, have assisted players in being able to improve at their own pace. It doesn’t matter if you want to master poker odds or simply learn a new game from scratch; you gain a safe, supportive place to grow with digital environments.

Going back to blackjack, this is a card game known to have multiple strategies you can implement. Thanks to online play, it’s easier than ever to experiment or refine a blackjack strategy before going “all-in”.

Conclusion

With their blend of accessibility and innovation, online card games continue to captivate players around the world. Their popularity only continues to grow, and it shows no signs of slowing down.

Understanding MicroStrategy’s mNAV Premium

By
Paul Ugbede Godwin
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0

MicroStrategy now rebranded as Strategy in some contexts, but still trading as $MSTR has long been known for its aggressive Bitcoin treasury strategy, holding 649,870 BTC as of late November 2025, valued at approximately $61.7 billion at current prices around $95,000 per BTC.

The company’s stock has historically traded at a significant premium to its modified Net Asset Value (mNAV), a metric that compares the enterprise value market cap plus debt minus cash to the value of its Bitcoin holdings.

This premium—peaking at nearly 4x in late 2024—reflected investor enthusiasm for CEO Michael Saylor’s “leveraged Bitcoin” model, where equity and debt issuances funded BTC purchases, creating a virtuous cycle of accumulation and share price appreciation.

However, mNAV has collapsed dramatically in 2025, falling below 1x trading at a discount to BTC holdings for the first time since early 2024. As of November 25, 2025, it hovers near parity around 1.0x–1.1x, with the stock down ~60% from its 2025 peak of $543.

This has sparked debates: Is the premium structurally broken, or is this a temporary compression amid a Bitcoin correction, BTC is down ~15% from its October high.

The Premium Has Vanished—But Is It Permanent?

No, the mNAV premium is not “gone for good” in a structural sense, but its return to historical highs (2x+) looks unlikely without a major Bitcoin bull run or renewed conviction in Saylor’s model. The compression reflects a “rational repricing” of risks, not a death knell for the strategy.

BTC fell from $107K (Oct) to $95K, pushing mNAV below 1x on Nov 12 (0.97x). Stock rebounded slightly to $210–$254 post-earnings. Temporary; historical patterns show mNAV rebounds with BTC (e.g., from 0.7x in May 2022 to 3.4x by late 2024).

Analysts like Standard Chartered see this as “correction exhaustion,” predicting recovery. Premium enables accretive issuance; near 1x turns it dilutive. Raised $20B in 2025 via equity, convertibles, and preferreds (e.g., €660M in Nov). Abandoned “no issuance below 2.5x mNAV” policy in Aug, eroding trust.

Q3 BTC buys slowed to 43K vs. 80K in Q1. Preferreds 8–10% yields provide funding but burden common equity, capping upside. Dilutes MSTR’s uniqueness, compressing premium. New entrants like MetaPlanet, Twenty One Capital and ETFs offer direct/cheaper exposure, reducing MSTR’s “moat.” mNAV fell to 1.32x by Oct.

Premium now ~18-month low 1.2x–1.3x avg. Could stabilize at 1.1x–1.5x if MSTR leads adoption. High debt $8.2B, 7–10% costs + negative software cash flow $100M loss in 2025. Total liabilities exceed cash; index exclusion risk (e.g., Nasdaq-100) could trigger $2.8B–$8.8B outflows in Feb 2026.

Manageable short-term: No major maturities until 2027; refinancing possible. But sustained mNAV <1x risks “death spiral” forced BTC sales for buybacks. Hedge funds like Jim Chanos profited from short MSTR/long BTC, closing positions as premium fell 60% from $80B to $15B implied.

Recent 6% stock jump on Nov 23 BTC buy announcement; institutional holders steady. Saylor’s “HODL” conviction intact. mNAV isn’t static—it’s emergent from market dynamics. It dipped to 0.7x in 2022’s bear market but expanded 5x in the subsequent bull. No treasury company has sustained <1x long-term without intervention.

Even at 1x, MSTR outperforms direct BTC in bull phases via yield 27.8% YTD BTC-per-share growth. Preferred stock sales like STRK at 8–10% dividends fund buys without full dilution, though they cap common upside. BTC rebound to $100K+ could restore 1.5x–2x mNAV.

S&P 500 inclusion still possible or corporate adoption wave might reignite premium. Q3 earnings beat expectations $10B net income, +7,100% YoY, showing underlying strength.

Peter Schiff, and Chanos argue the model is “fraudulent” or unsustainable—high costs, executive sales, and premium reliance make it vulnerable. If BTC stagnates, dilution could force sales, but probability is low debt buffer ~7.75x holdings.

The mNAV premium isn’t extinct—it’s compressed amid a risk-off crypto winter, echoing past cycles. MSTR remains a high-conviction BTC play for bulls outpacing BTC in recoveries, but risks like dilution and outflows make it riskier than spot ETFs.

At current levels ~1.0x–1.1x, it’s arguably undervalued for long-term holders betting on BTC’s upside, but short-term volatility could test 0.9x. Watch BTC’s $90K support and Dec index decisions for clues. If you’re in, it’s a “buy the fear” moment; if not, direct BTC exposure avoids the drama.

Tekedia Capital Welcomes Nozomio

By
Ndubuisi Ekekwe
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0

Tekedia Capital joins Paul Graham (a founder of YCombinator), executives in OpenAI, and other global investors to seed Nozomio, with $6.2 million, under the solo and singular one-person coding prodigy Arlan Rakhmetzhanov.

Arlan’s story is a magical one: from Kazakhstan to Silicon Valley for an advanced context augmentation system for AI agents . We wish this secondary school dropout the best of luck as he takes Nozomio to the next level.

Kalshi’s Rapid Valuation Surge and the Emerging Prediction Market Duopoly

By
Paul Ugbede Godwin
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0

Prediction markets—platforms where users bet on real-world outcomes like elections, sports, or economic events—have exploded in popularity since the 2024 U.S. presidential race.

What started as niche tools for gauging sentiment are now seen as scalable infrastructure for event-based trading, blending elements of betting, forecasting, and financial derivatives.

At the center of this boom are two dominant players: Kalshi, a CFTC-regulated U.S.-based exchange, and Polymarket, a blockchain-native platform that’s pushing for broader U.S. access.

Recent funding rounds have propelled their combined private valuations above $25 billion, signaling investor confidence in a concentrated “duopoly” where these two platforms capture the lion’s share of liquidity and activity, rather than a fragmented field of dozens of startups.

Kalshi’s Valuation Trajectory From $5B to $11B in Weeks

Kalshi’s growth has been meteoric. Just last week, the company closed a $1 billion funding round led by Sequoia Capital and Alphabet’s CapitalG, valuing it at $11 billion—more than double its $5 billion mark from an October 2025 Series D round that raised over $300 million from backers including Andreessen Horowitz and Paradigm.

This brings Kalshi’s total funding to roughly $1.6 billion. Post-election volume surge; expanded to sports betting. Hit $50B annualized volume; global expansion to 140+ countries. Record $1.3B quarterly inflows; 60% market share in volumes.

This “doubling in weeks” reflects over $1.3 billion in fresh capital committed to Kalshi this quarter alone, driven by its pivot from politics to high-volume categories like sports like NFL outcomes and crypto events.

Open interest (OI) now stands at $320 million, nearing 2024 election peaks, with November on track for record volumes exceeding $7 billion industry-wide.

Kalshi vs. Polymarket

Investors aren’t spreading bets across the sector—they’re doubling down on Kalshi and Polymarket as the “default venues” for event risk trading.

Polymarket, which runs on Polygon’s blockchain with USDC settlements, is reportedly negotiating a new round at $12-15 billion, up from $9 billion in an October 2025 deal backed by up to $2 billion from Intercontinental Exchange (ICE, owner of the NYSE).

This would push the duo’s combined valuation past $25 billion, a concentration unseen in recent crypto/fintech cycles like NFTs or AI startups. CFTC greenlight for U.S. via licensed venue; $259M weekly volume.

POLY token airdrop hype; 40% market share. Deep liquidity on just two platforms will dominate, much like DraftKings and FanDuel in sports betting. Kalshi holds ~60% volume share, while Polymarket’s on-chain data shows ~40%, with OI at $300 million.

Together, they’ve captured over $7 billion in volume since September, outpacing rivals. Kalshi’s CFTC license provides a “moat” for U.S. users, enabling fiat-based trading without crypto volatility. Polymarket’s U.S. re-entry via a derivatives venue adds legitimacy, with ICE integration potentially feeding data into Wall Street terminals.

Post-2024 election, volumes have 3x’d. Kalshi hit top of Apple’s Finance app charts with 1.3 million users; Polymarket’s decentralized model allows instant market creation hundreds live vs. Kalshi’s 10+. Sports now rivals politics as the top category.

Polymarket’s upcoming POLY token and airdrop inject crypto upside. Kalshi’s Robinhood partnership targets retail, while both use central limit order books (CLOBs) for better liquidity.

These aren’t just bets—they’re sentiment oracles for hedging (e.g., election impacts on stocks). Bank of America calls them “untaxed gambling,” but volumes suggest institutional interest.

Fiat/KYC focus; strong in U.S. sports/politics; resolution via third-party sources for nuance. Slower market launches, higher fees critics note wide spreads.

Polymarket: On-chain, global access; UMA Oracle for resolutions censorship-resistant but controversial. Zero fees, fast creation. U.S. restrictions until recently.

Both emphasize professional market makers, CLOBs, and similar categories. The battle shifts to distribution—Kalshi via apps like Robinhood, Polymarket via X partnerships and crypto wallets.

Critics argue prediction markets erode retail capital with poor odds, and resolutions remain contentious. Regulatory scrutiny could intensify, especially on “gambling” labels. Yet, with clearer paths and $25B+ in backing, the duopoly looks locked in.

If volumes hit $10B+ monthly, expect IPOs or tokens by 2026, reshaping how we price uncertainty. As one investor noted, they’ve “created a new market out of thin air.”

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