Donald Trump and his family have added billions to their net worth since Inauguration Day, with much of that new wealth coming from a dizzying array of crypto projects. But some of those gains are under threat, thanks to the crypto sector’s recent struggles. The latest blow is a second consecutive reported loss for Eric Trump’s American Bitcoin Corp, a wind-powered bitcoin mining company. The $82 million loss, from the first quarter of 2026, is largely due to the continued slump in bitcoin prices. It follows the same pattern as Trump Media and Technology Group—the parent company of the president’s Truth Social platform—which has lost $1.1 billion since its founding, almost entirely due to losses on bitcoin.

Both companies are using what’s known as a bitcoin treasury strategy—a relatively simple business plan wherein a firm just acquires as much bitcoin as possible. As long as the price of bitcoin goes up, the company gets more valuable. The problem is, the plan only works if the price of bitcoin goes up, and for the last seven months, the price of Bitcoin has mostly been down. The price of one bitcoin peaked late last........

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