Donald Trump is denying allegations that he's profiting from the TRUMP memecoin, despite reports showing significant earnings linked to his associated wallets. The TRUMP token has surged 20% in the past month, with Trump's team reportedly earning nearly $900,000 in transaction fees. Two entities tied to Trump's business empire, CIC Digital LLC and Fight Fight Fight LLC, control 80% of the token's supply.

In a recent interview, Trump claimed he hadn't profited from the token and hadn't even looked at its performance. However, blockchain data suggests otherwise, showing substantial earnings from trading fees and token sales. The White House has announced plans to host a dinner with the top 220 TRUMP token holders, adding fuel to the controversy ¹ ².

The TRUMP token's value has been volatile, peaking at $73.43 before dropping to around $11.20. Trump's team has downplayed his involvement, but critics argue that his connection to the token raises ethical concerns. As the US considers its stance on cryptocurrency regulation, Trump's support for the industry has sparked debate ³.