Trumps crypto golden age throws away $2 trillion in profits, leaving those holding dollars as winners

The crypto market that surged on Donald Trump’s campaign promise of a friendlier US posture is now back near where it started, after an 18-month round trip that added close to $2 trillion in value and then erased roughly the same amount.

Data compiled by CryptoSlate put the total crypto market value at about $2.4 trillion in October 2024, weeks before the US election.

By November 2024, the market had pushed toward $3.2 trillion as traders priced in a “policy premium,” the expectation that a…