Trump Media shares have lost 70% of their value YTD

As whispers grow in Washington about Donald Trump’s waning influence over the Republican party, investors are rapidly backing away from his company’s stock. In the past week, shares of Trump Media & Technology Group have fallen 18% and the stock is down 36% in the past month.

Shares are ever-so-slightly above their all-time low, currently trading at $10.29, and that’s having an impact on Trump’s personal fortune. The stock plunge has erased more than $5 billion in wealth for Trump and his family. Trump owns roughly 115 million shares of the company.

The decline has been a fairly steady one since the stock’s big jump in January prior to the start of his administration’s second term. Year to date, Trump Media shares have lost 70% of their value. (The stock was poised to drop once again in pre-market trading Thursday.)

Investors are particularly concerned about the company’s crypto holdings. The broader cryptocurrency market has been in meltdown for the better part of the past month-and-a-half. Bitcoin prices are now below where they were when Trump took office and just under 2% lower for the year. After spiking as high as $124,000, the price now stands at less than $92,000.

Trump Media has been investing heavily in Bitcoin, accumulating $2 billion worth in July, which made up roughly two-thirds of its liquid assets at that time.

The crypto problems are likely having a larger impact on Trump’s wealth, as he has holds or has invested in additional crypto ventures including the decentralized finance entity World Liberty Financial and the meme coin $TRUMP, which has fallen from a price of $45 to less than $7 since the start of the year.

Trump has been incredibly pro-crypto since taking office, easing regulations for token traders. He has shrugged off concerns about a conflict of interest, noting that his assets are in a trust that’s managed by his son Donald Trump, Jr.