I had said that the first major cause of the liquidity crisis in crypto was Trump and the Solana-based scam crew managing his crypto ventures. There have been many big winners so far, but aside from the illicit players, most of them have somehow recycled the incoming money back within the crypto ecosystem. Since the money moved from one pocket to another without completely leaving the system, it inevitably provided some benefit. On the other hand, the amount Trump has collected from the market and taken out of the system:

- $635.1 Million: TRUMP memecoin
- $236.3 Million: WLFI token sales
- $196.9 Million: Sale of ownership stakes in the USD1 stablecoin initiative
- $65.6 Million: Sale of part of Trump's stake in World Liberty Financial
- $6 Million: NFT sales and rights
- $1.82 Million: From the sale of Ethereum staking revenues
So, according to Trump's legal declaration to the US government, he pulled $1.141 billion from the crypto market last year and pocketed it. This is just Trump's income; when you add the income of his inner circle and the market sharks running his operations, it becomes a $1.5-2 billion operation. When this much cash is withdrawn from the market in the middle of a bear market, the money that should have circulated internally took a serious hit. Of course, it's not the only reason, but like a snowball rolling from the top of a mountain, it turned into an avalanche as it went downhill. He is not the only reason for this situation; actually, it's those who gave him that money—seeing a crowd rushing to buy Trump tokens and Melania tokens with millions of dollars like pocket change, they couldn't resist easy money. The ones who suffered were the ordinary people trying to make money away from all this.