Trump-linked tokens fall as Bitcoin rises after US midterm elections

Two Trump-linked tokens led losses in the top 100

Two crypto tokens linked to US President Donald Trump were the biggest losers among the top 100 cryptocurrencies on Wednesday. This happened even as Bitcoin and Ether rose after the US midterm elections.

Official Trump (TRUMP) fell 17% over 24 hours to $1.33. World Liberty Financial (WLFI) dropped over 7% to $0.047, according to CoinMarketCap data from around 5:32 pm UTC.

TRUMP is the president's official memecoin, which is a type of crypto token often linked to an internet trend or public figure. It was launched in January 2025. WLFI is the governance token of World Liberty Financial, a Trump family-backed decentralized finance, or DeFi, project launched in 2024. DeFi is a system that offers financial services using blockchain technology, which is a shared digital record system.

The falls followed Democratic victories in Tuesday's midterm elections, including surprise wins in Texas. Democrats won control of both the House and Senate from Republicans.

Main market moves on Wednesday

• TRUMP fell 17% to $1.33.
• WLFI dropped over 7% to $0.047.
• Bitcoin rose more than 4% to around $80,500.
• Ether rose 6% to $2,433.
• BNB rose 3%, XRP rose 2.6% and Solana rose 2.5%.
• The overall crypto market rose 3.4% to $2.69 trillion.

Other political tokens also fell

MELANIA, a memecoin associated with First Lady Melania Trump, dropped nearly 13% to around $0.066.

A separate token named after Vice President JD Vance, called VANCE, dropped nearly 12%. The source said it has no confirmed official connection to the vice president.

The wider political memecoin market also fell. Its total market value dropped more than 16% to $477 million. Trading volume rose 123% to $437 million, according to CoinMarketCap data.

Analyst on why political tokens moved differently

Benjamin Sarquis Peillard, founder and CEO of Cap, a DeFi platform focused on stablecoin yields, spoke to Cointelegraph.

He said Bitcoin and other established assets respond to factors such as liquidity, institutional flows and wider economic conditions. He said politically linked tokens can be more sensitive to changes in expectations about Washington.

He said such tokens may face selling pressure if investors reassess their risk exposure. He also said the longer-term question is what supports demand for these tokens beyond their link to a political figure.

What the election could mean for crypto rules

The election results also raise questions about future US crypto legislation. This includes the Digital Asset Market Clarity Act, commonly called the CLARITY Act.

The bill aims to set a regulatory framework for digital assets. It failed to advance in the Senate earlier this year after falling short of the 60 votes required. The source said Democrats pushed for stronger ethical provisions and safeguards against conflicts of interest involving Trump's crypto ventures. Four Republicans also opposed advancing the bill.

Peillard said the results add regulatory uncertainty about the pace and direction of digital asset legislation. He said for politically linked tokens, that uncertainty can have a more immediate effect on investor sentiment.

He said the wider industry has support and opposition from lawmakers in both parties. He said the key question is whether Congress can set a lasting framework that gives clarity regardless of which party holds power.

Where this information came from

• Cointelegraph