Trump Jr.'s crypto stock pick crashes 45%

Trump Jr.'s crypto stock pick crashes 45% originally appeared on TheStreet.

Thumzup, a small-cap digital marketing firm with ambitions beyond social influence, made waves in the crypto space this week.

While the company has built its brand on rewarding users for posting brand promotions on social media, it is now setting its sights on blockchain infrastructure. The pivot caught the attention of markets and investors alike, especially with one big name surfacing in recent regulatory filings: Donald Trump Jr.

Trump Jr., whose name only appeared in filings last month, was revealed as a significant shareholder in Thumzup Media Corporation (TZUP), according to the company's July registration statement for a $50 million offering. Though it remains unclear when exactly he took a stake in the firm.

Trump Jr. linked to sudden drop in Thumzup stock

Shares of Thumzup Media Corporation (TZUP) dropped nearly 46% Tuesday after the company announced it would buy Dogehash Technologies, Inc., a North American crypto miner that is focused on Dogecoin and Litecoin.

In the midday session, the stock had plummeted from $8.28 to $4.60 — one of its steepest single-day declines since going public. The market responded harshly to the deal, which will see Dogehash shareholders receive 30.7 million shares of Thumzup in exchange for their holdings.

Thumzup stock nosedives after Dogehash deal announcement. Source: TradingView. The combined company, to be called Dogehash Technologies Holdings, Inc., will trade on the Nasdaq under the new ticker symbol XDOG.

Dogehash currently operates 2,500 Scrypt ASIC miners, most powered by renewable energy. The company also has plans to expand its output through 2026 and is working on Dogecoin Layer-2 infrastructure and DeFi staking initiatives.

CEO Robert Steele said the acquisition “accelerates our evolution from a digital-marketing platform into a diversified digital-asset infrastructure and treasury company."

Trump Jr.'s stake adds political weight to Dogecoin pivot

Although Trump Jr. has not publicly commented on the deal, his stake in the company puts a political spotlight on Thumzup’s crypto ambitions. With Dogecoin already tied to meme culture and online personalities, the Trump family connection only amplifies the attention — and scrutiny.

Thumzup's market value has taken a hit, sliding from around $75 million to nearly half that in less than 24 hours. Still, it trades above its 52-week low of $2.06, though well below its $16.49 peak.

Trump Jr.'s crypto stock pick crashes 45% first appeared on TheStreet on Aug 19, 2025

This story was originally reported by TheStreet on Aug 19, 2025, where it first appeared.

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