The Trump family’s crypto portfolio is getting battered with the rest of the industry—but Melania’s memecoin has fared surprisingly well

The crypto wipeout that vaporized $1 trillion in market value over the past three months has afflicted all corners of the industry—including the numerous crypto ventures tied to President Donald Trump’s family. But while the family’s portfolio is down across the board, some assets have been hit harder than others.

Since Oct. 10, when the crypto market witnessed what’s since been dubbed the “flash crash,” the worst-performing crypto asset tied to the Trump family has been American Bitcoin’s stock. The Bitcoin mining and holding firm—which is backed by the president’s two sons, Eric and Donald Jr.—has plunged more than the world’s largest cryptocurrency and tanked about 80%. Its market capitalization is just over $1 billion. That’s a far cry from its height of nearly $8.5 billion when the company first went public in September. 

The best-performing Trump-tied crypto asset after the digital assets market cratered in October is the first lady’s memecoin, $MELANIA. The token is down only 27% and experienced a boost prior to the release of Melania Trump’s documentary in late January. Still, the cryptocurrency is down more than 98% from when it launched one day before President Trump’s inauguration last year.

The depreciation in price of the Trump family’s crypto assets is no different from the recent decline in value of hundreds of other cryptocurrencies in what’s historically been a highly volatile market. But the fluctuations in the Trump family’s crypto holdings are significant because, over the past year, so much of the family’s wealth has become tied to the blockchain industry. (Fortune has a breakdown of the main pillars of the Trump family’s crypto holdings here.)

Historically, the Trumps have made their money from real estate. Estimates now vary, but in early January, Fortune valued the Trump family’s crypto holdings at about $3 billion. That includes stakes in public companies: American Bitcoin, the crypto hoarder ALT5 Sigma, as well as Trump Media & Technology Group, a social media firm that has bought up nearly $1 billion in the world’s largest cryptocurrency. 

There are also three cryptocurrencies: Melania’s memecoin, the president’s memecoin, and a cryptocurrency launched by World Liberty Financial, a crypto business that the president’s sons founded.

The recent crash in the digital asset market may prompt onlookers to question whether the Trump family’s digital assets portfolio is built to withstand the market’s gyrations in the long term. Still, paper gains or losses may be beside the point. The Trumps have cashed out—in actual dollars—at least $1.2 billion from World Liberty Financial, arguably their most lucrative Trump crypto venture, over the past 16 months, according to a recent analysis from the Wall Street Journal.

A spokesperson for World Liberty Financial declined to comment.

This story was originally featured on Fortune.com