Trump-linked tokens drop up to 17% as Democrats win US midterm elections

Two cryptocurrency tokens associated with US President Donald Trump saw steep declines on Wednesday, falling more than any other assets in the top 100 digital currencies, after Democratic victories in the US midterm elections. The moves contrasted with a broader recovery across major cryptocurrencies. Official Trump (TRUMP), a memecoin launched by Donald Trump in January 2025, dropped 17% to $1.33, according to CoinMarketCap data as of 5:32 p.m. UTC. World Liberty Financial (WLFI), a governance token from the Trump family-backed DeFi project World Liberty Financial, fell 7% to $0.047 during the same period. Both tokens had capitalized on the connection to the US president and his family to attract attention and investment from the crypto community.

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