New York —
Donald Trump’s return to the White House set off a gold rush on Wall Street and in the crypto world.
Companies and crypto projects linked to Trump and his family exploded in value as traders bet they would benefit from the president’s return to power.
A year later, some of those Trump-related bets have paid off. But many others have imploded, costing investors who rushed in during the initial boom dearly.
The crash back to earth for many of these assets reflects the fact that many of these bets were hard to make sense of in the first place.
“Sometimes irrational exuberance meets the brick wall of logic,” said Art Hogan, chief market strategist at B. Riley Wealth.
Trump Media
Exhibit A is Trump Media & Technology Group, the owner of Truth Social, whose ticker symbol is DJT, the president’s initials.
Trump Media became a proxy for Trump’s election fortune
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