Donald Trump is denying allegations that he is profiting from the TRUMP memecoin, his official cryptocurrency launched just days before his presidential inauguration. Chainalysis recently reported that the TRUMP token earned $900,000 in fees in just two days for its supporters.
The wallets of the largest token holders are controlled by CIC Digital LLC, an entity also used for its NFT collection and Fight Fight Fight LLC, co-owned by CIC Digital. Together, they own 80% of the TRUMP tokens.
"I don't profit from anything," Trump said in an interview with NBC News, adding that he has not considered the performance of the token and any financial benefits are purely coincidental. "If I own stock in something, and it does well, and the stock market goes up, I guess I'm making a profit," he said.
The TRUMP token has seen strong market activity in recent weeks. Currently, it is trading around $11.20, down significantly from its all-time high of $44.19, but still up 20% in the past month.
Recently, the White House announced that the 220 largest holders of the $TRUMP token will be invited to dinner with the President. Eric Trump, the son of President Trump, will be the keynote speaker at the Consensus 2025 event in Toronto.
