Trump Media stock and crypto tokens crash to record lows after US midterm losses
Shares in Trump Media and related digital tokens dropped sharply overnight as election results confirmed sweeping losses for Republicans.
Market reaction to US election results
Shares in Trump Media and Technology Group dropped to an all-time low on Wednesday morning following midterm election returns that saw Democrats defeat Republicans across major congressional races.
The company's stock, which trades under the ticker DJT on the Nasdaq exchange, fell 11 per cent overnight to just over $5 per share, down from $5.90 before polls closed on Tuesday evening. The stock had previously reached an all-time high of $101.
Donald Trump holds 114 million shares in Trump Media through a trust, giving him an ownership stake of over 40 per cent in the business.
Digital assets and cryptocurrency losses
The sell-off extended across cryptocurrency tokens affiliated with the Trump family. World Liberty Financial tokens, known as WLFI, dropped to under 5 cents each after poll closures. The governance token had previously traded at a high of 31 cents in 2025 before sliding late last month alongside market jitters following a hack at crypto exchange Binance.
Trump's personal financial disclosures show he holds 15 billion WLFI tokens. World Liberty Financial is a corporate venture established by the Trump family and the family of Steven Witkoff, a real estate developer appointed by Trump to negotiate diplomatic arrangements concerning Gaza, Iran and Ukraine.
Novelty digital coins branded as Trump$ also fell by approximately 10 per cent overnight to about $1.40. The coins had reached $45 shortly before the presidential inauguration in January 2025, with sales bringing in $636 million that year according to disclosure documents.
| Asset | Post-midterm price | Overnight change | Peak price |
|---|---|---|---|
| Trump Media (DJT) | $5.00 | -11% | $101.00 |
| World Liberty (WLFI) | Under $0.05 | Not disclosed | $0.31 |
| Trump$ token | $1.40 | -10% | $45.00 |
Sentiment and valuation dynamics
Financial products connected to the president track political standing rather than corporate balance sheets, according to market analysts. Jim Angel, an associate professor at Georgetown University's McDonough School of Business, observed that investors in these vehicles are fundamentally wagering on political popularity.
"People think they're investing in Trump. They really aren't. They're really betting on his popularity," Angel said, adding that record low popularity was directly reflected in the record low pricing for DJT and World Liberty.
World Liberty Financial also issues a stablecoin named USDI1, which is pegged to the US dollar and did not experience volatile price movements. The venture recently secured a banking licence.
Key numbers
| What | Figure | Source |
|---|---|---|
| Trump Media stock price | Just over $5 | Nasdaq market data |
| Trump Media overnight drop | 11% | Nasdaq market data |
| Trump's DJT shareholding | 114 million shares | Personal financial disclosures |
| WLFI token price | Under 5 cents | Crypto market pricing |
In this story
| Name | Role in the story |
|---|---|
| Donald Trump | US President whose media company shares and digital tokens fell following midterm results. |
| Trump Media and Technology Group | Nasdaq-listed media firm whose shares hit an all-time low. |
| World Liberty Financial | Digital asset venture linked to the Trump family whose WLFI tokens dropped. |