Democrats logged a decisive win in the midterms, and two assets connected to President Donald Trump moved lower together. On Wednesday, shares of Trump Media & Technology Group Corp. - which operates Truth Social - hit a record trough of $5.03. Meanwhile, $TRUMP - the digital token he introduced days before his second inauguration - declined by over 10% during the previous 24 hours, according to CoinMarketCap.
Both assets trade heavily on retail sentiment, and the pair's slide suggests investors are uneasy about what the election could mean for businesses tied to the president, which are now seen as likely to face renewed attention from Congress. On the Terminal, type ELEC for a breakdown of the 2026 midterm election results.
For months, Democrats have signaled that, if they captured a chamber, they would investigate the president along with the business dealings of his relatives, which could place companies linked to the first family under scrutiny. As the tallies came in Tuesday night, Robert Garcia - the California Democrat poised to lead the House Oversight Committee - wrote "LAWYER UP" on social media.
These ventures represent sizable wealth for the family. The Bloomberg Billionaires Index pegs Trump's interest in the media firm at roughly $600 million, owned via a trust overseen by his oldest son, Donald Trump Jr. It also puts around $83 million on the meme coin business.
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Breaking with customary presidential norms, Trump drew criticism from liberal opponents over cryptocurrency-related ventures and other businesses leveraging his name while he served in the White House. Earlier this year, in a New York Times interview about possible ethical conflicts should he serve a second term, he said, "I found out that nobody cared." The White House has maintained there are no conflicts of interests tied to the president's business ventures.
Voters still flagged corruption as a top worry before the election. A Fox News poll found 60% were extremely concerned about government corruption, and Gallup reported that 89% of Americans viewed corruption as widespread - the highest share in two decades.
In plain English: Trump-linked assets are trading like political barometers. When retail-driven names meet the prospect of stepped-up hearings, headlines can matter as much as fundamentals.
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