Trump-Linked Cryptos, Stocks Drop 24% Amid Corruption Allegations

- Trump-linked assets down over 24% in 30 days, reports Cryptopolitan on June 17, 2025. - Drop linked to alleged pay-for-access schemes with Justin Sun. Crypto assets and stocks associated with U.S. President Donald Trump dropped by more than 24% in the last 30 days, a decline occurring as accusations of corruption and pay-for-access schemes involving Trump and Tron founder Justin Sun mounted. On June 17, 2025, Cryptopolitan reported these declines, citing claims that President Trump is leveraging his presidency for profitable cryptocurrency deals with Sun. Specifically, the $Trump token dropped by 4.5% to $9.60, while the MELANIA memecoin, linked to First Lady Melania Trump, decreased by 17.56% from its weekly peak to $0.2597. Additionally, the Trump Media & Technology Group (DJT) stock dipped by 0.05%, trading at $18.66 in early U.S. Tuesday trading. These developments prompted multiple investigations into Trump's connections with Justin Sun and his controversial fundraising activities, such as memecoin sales, with a private dinner on May 22 particularly raising concerns. At this dinner, Sun reportedly invested $20 million in the $Trump memecoin and, as the top purchaser, obtained a $100,000 Trump-branded watch, later receiving a White House tour. This initiative reportedly raised an estimated $148 million from memecoin sales. Furthermore, reports indicate Justin Sun invested $75 million into World Liberty Financial (WLF), another Trump-led crypto platform, in which Trump and his sons supposedly hold a 60% stake. In response to these "open corruption" allegations, Senate Democrats are reportedly advocating for legislation aimed at banning federal officials from profiting through cryptocurrencies. Meanwhile, ethics experts and legal scholars decried these dealings, suggesting that personal financial gain, rather than national interest, might sway policy decisions. In March 2025, The State Democracy Defenders Fund estimated the Trump family’s crypto ventures at approximately $2.9 billion. As of 19:18 UTC on June 17, the $Trump token (TRUMP) was trading at $9.523, a 5.385% decrease. According to the Market Survey on the same day, the MELANIA memecoin (MELANIA) was trading at $0.252, and its 24-hour trading volume had decreased by 6.863%.