U.S. President Donald Trump’s supporters have collectively lost over $12 billion in the past month following the dramatic collapse of the $Trump meme coin. The cryptocurrency, launched on January 17, 2025, as a symbol of support for Trump’s second term, initially soared in value but has since plummeted by over 80%, shrinking its market capitalization from a peak of $15 billion to $2.7 billion as of Thursday.

While many investors are reeling from steep losses, Trump appears undeterred. In a bold move on Sunday, the former president announced plans to create a U.S. Crypto Strategic Reserve, signaling his continued commitment to digital assets despite the recent turbulence. The proposed reserve will include established cryptocurrencies such as Solana (SOL), Cardano (ADA), and Ripple (XRP), aiming to solidify America’s standing as a leader in the global digital finance sector.

The announcement builds on Trump’s earlier executive order, “Strengthening American Leadership in Digital Financial Technology,” issued on January 23, 2025. The order directed the Presidential Working Group on Digital Asset Markets to accelerate efforts toward creating a national cryptocurrency reserve. Trump described the initiative as a pathway to revitalize the cryptocurrency industry following what he called “corrupt attacks” by the Biden Administration.

“We’re going to make the U.S. the Crypto Capital of the World,” Trump said. “No more stifling innovation. We will bring back the prosperity of the crypto markets, and we’ll do it bigger and better than ever.”

To further boost his crypto agenda, Trump will host the first-ever White House Crypto Summit on Friday. The event will feature prominent founders, CEOs, and investors from the cryptocurrency sector, as well as members of the Presidential Working Group on Digital Assets. The summit is expected to unveil additional measures to support the industry and provide a platform for leading voices in digital finance.

A Cautionary Tale of The $Trump Coin Collapse

The $Trump coin’s implosion has highlighted the high-risk nature of meme coins, which often thrive on hype and celebrity endorsements but lack underlying value or practical utility. Many investors had purchased the token not only as a show of loyalty to Trump but also as a speculative bet on potential gains. However, the coin’s value tanked shortly after its peak, contributing to a broader cryptocurrency market downturn.

Melania Trump’s own venture into meme coins fared even worse, with her officially endorsed token plummeting by 94% since January 20. The collapse of both coins has led to intensified scrutiny from U.S. lawmakers, with Democrats proposing the “Modern Emoluments and Malfeasance Enforcement (Meme) Act,” aimed at preventing senior government officials and their families from launching meme coins.

A Wider Crypto Rout

The $Trump coin’s decline coincides with a broader crypto market slump. Bitcoin, the flagship cryptocurrency, lost 20% of its value following Trump’s inauguration, contributing to the overall bearish sentiment. Many argue that the lack of a clear strategy from Trump’s administration has exacerbated the situation, particularly his failure to establish a strategic Bitcoin reserve as initially hinted.

Sam Liccardo, a Democratic Congressman, criticized Trump’s ventures. “The Trumps’ issuance of meme coins financially exploits the public for personal gain and raises the specter of insider trading and foreign influence over the Executive Branch,” he said.

Will the Crypto Reserve Restore Confidence?

Despite the backlash, Trump’s proposed U.S. Crypto Strategic Reserve offers a potential lifeline for his digital finance ambitions. By focusing on established cryptocurrencies such as Solana, Cardano, and Ripple, the initiative could help stabilize market sentiment and demonstrate a shift away from speculative meme coins toward more credible digital assets.

Analysts, however, remain cautious. “This reserve could provide a much-needed anchor for U.S. digital asset policy, but it all depends on execution,” said Lisa Green, a senior analyst at CryptoWatch. “Investors will want to see clear regulatory guidelines and a structured approach, not just grandstanding.”

The forthcoming White House Crypto Summit may provide critical insights into Trump’s strategy. Industry insiders expect discussions to cover regulatory frameworks, market stability, and innovation incentives, all aimed at boosting the legitimacy and global competitiveness of the U.S. cryptocurrency sector.

However, Trump’s influence on the crypto market remains undeniable. Despite the $Trump coin debacle, his latest policy moves suggest a calculated pivot towards more established and resilient cryptocurrencies. Only time will tell whether this shift will restore investor confidence, and boost the performance of cryptocurrencies, particularly, bitcoin – which saw a rise following the announcement of Trump’s plans for a U.S. Crypto Strategic Reserve.

A few days ago, I wrote that big consulting companies could be in trouble if Elon Musk’s DOGE (department of government efficiency) continues its acceleration in the public sector America: “I wonder how some of these firms will thrive, especially those tethered to the public sector, if this Musk-Trump playbook continues. DOGE is providing a case study that may hurt the prospects of these companies for years. Yes, if DOGE does this and it works, a template is born, and if you dig deeper, the public sector has disintermediated the works of big play consulting firms.”

Now, the business prophecy is here: ‘Executives at 10 of the largest U.S. consulting firms, including Ernst & Young and Booz Allen, are scrambling to arrange meetings with White House officials to justify their contracts…The meetings come ahead of this Friday’s deadline to cut the General Services Administration’s budget and has prompted firms to “defend the spend” by presenting detailed assessments of their projects. The firms are seeking to preserve lucrative revenue streams amid the growing push to eliminate non-essential government contracts.’

Good People, Trump is crashing all the parties.

Now, can we have DOGE in Nigeria?

In a fresh move that has intensified Nigeria’s petrol price war, the Nigerian National Petroleum Company Limited (NNPC) has reduced the pump price of Premium Motor Spirit (PMS) to N860 per liter.

The new price, effective Monday, marks a significant drop from the previous average of N920 per liter, bringing some relief to millions of Nigerians grappling with the high cost of living.

The price cut by NNPC, the nation’s largest fuel supplier, follows a similar move by Dangote Petroleum Refinery and Petrochemicals Limited, which slashed its ex-depot price of petrol from N890 per liter to N825 last week. This marked Dangote’s second price reduction in February, sparking a wave of competitive pricing among private marketers.

Dangote, in a public notice, listed its partner off-takers prices at select filling stations in Lagos, with MRS selling petrol at N860 per liter, and AP and Heyden at N865 per liter. These moves have not only intensified competition but also pressured the NNPC to adjust its pricing strategy to maintain its market share.

However, as Nigerians express excitement over the lower prices, analysts are raising concerns over potential repercussions, particularly concerning the NNPC’s financial obligations to the Federation Account Allocation Committee (FAAC).

“The issue with this format is that NNPC will withhold some money that they are supposed to pay into the federation account. They cannot justify this reduction since most of their products are being imported and landing cost remain N927,” Johnson Kio said.

Before now, economists have expressed concerns that the NNPC’s price reduction could negatively impact its remittance to FAAC, where the company has reportedly struggled with consistency. This apprehension stems from the fact that the rehabilitated Port Harcourt Refinery has not yet fully started operations, meaning the NNPC still depends heavily on fuel importation to meet domestic demand.

Data from the January 2025 motor tanker vessel report highlights this reliance, showing that the NNPC imported 212,870,340 liters of petrol to Calabar and Lagos ports. With the landing cost of petrol products peaking at N927 per liter just weeks ago, analysts are questioning the economic viability of the NNPC’s latest price cut.

The NNPC’s FAAC remittance is critical to Nigeria’s fiscal stability, as federal, state, and local governments rely on these funds for budgetary allocations. Any shortfall could lead to disruptions in public sector funding, including salaries and infrastructure projects.

Is the Price Cut Sustainable?

While the price reduction has been welcomed by many, skepticism remains high. Many Nigerians recall past experiences where temporary price cuts were quickly followed by sharp hikes, often with minimal explanation.

The NNPC’s aggressive price cut appears to be a strategic response to maintain its dominance in the downstream market. However, given its reliance on imports and the high landing costs, the move may have financial implications for the state-owned company.

Energy experts have argued that the current price reduction might deepen this inconsistency, especially if the company continues to sell petrol at a loss.

Many believe that the sustainability of this price cut will depend on how quickly the Port Harcourt Refinery can come online and reduce import dependence. Without local refining capacity, the NNPC might find itself in a precarious financial situation.

For Nigerians, any reduction in petrol prices has a direct impact on the cost of transportation and goods. However, if the NNPC’s price cut is not economically sustainable, it could lead to a fresh cycle of market instability.

Market observers also warn that the price cut could lead to fuel shortages if the NNPC is unable to maintain import volumes at the current pricing level.

“”Under recovery”, “foregone margin”, “energy security cost”, and other grammars will soon start,” Dr. F. O. Ehiagwina noted.