Trump-linked tokens sink as Democrats seize Congress

Democrats swept the US midterm elections, and the crypto market's Trump wing took the hit. The president's branded tokens led the losses as traders digested a Congress now controlled by the opposition, according to Cointelegraph.

$TRUMP plunged 17%, now at $1.33. $WLFI fell more than 7%, landing at $0.047, while $MELANIA slid nearly 13%. The selloff was concentrated in tokens tied to Trump's family and business ventures, not the market at large.

Meanwhile, the majors went the other way. Bitcoin climbed 4% and Ethereum gained 6%, a split that suggests traders were rotating rather than fleeing. The pain was political, not systemic.

The reason is straightforward: a Democratic-led Congress raises the odds of sharper scrutiny of Trump's crypto ventures. It also injects fresh uncertainty into US crypto legislation, which had been inching forward under friendlier conditions.

For holders of the Trump-branded tokens, the vote count now matters as much as any chart. The next signal will come from how aggressively the new Congress pursues oversight of those projects, and whether stalled crypto bills get a second life or a burial.

Bitcoin and Ethereum, for now, are shrugging. The Trump tokens are not.