The Trump family has distanced itself from the controversial meme coin $TRUMP, amidst confusion surrounding its affiliations and a recent surge in bearish sentiment across crypto markets. Market analysts attribute this to Elon Musk’s ongoing feud with former President Trump, which has significantly impacted asset prices. 10x leveraged short bets against $TRUMP by trader Ogle have been liquidated following a decline of over $105,000, while the Trump family threatens legal action and hints at launching their own official crypto wallet. The market’s reaction to these developments has been mixed, with Fartcoin (FARTCOIN) gaining popularity as an unexpected beneficiary of increased market volatility.