Donald Trump gives conflicting answers over memecoin profits
US President Donald Trump gave clashing answers to whether he has profited from the crypto memecoin he launched in January, just days before he re-entered the White House.
In a wide-ranging interview with Kristen Welker on NBC News’ Meet the Press released on May 4, Trump said he was “not profiting from anything” when asked to respond to critics who said he’s profiting from the presidency through the memecoin.
“So you’re not profiting off of the cryptocurrency at all?” Welker asked Trump.
“I haven’t even looked,” Trump admitted.
“But I’ll tell you what. Look, if I own stock in something and I do a good job, and the stock market goes up, I guess I’m profiting.”
Trump launched his memecoin, Official Trump (TRUMP), on Jan. 17, which hit a peak of $73.43 two days later, just a day before he was inaugurated as president on Jan, 20.
The token has been in a steady decline since launch, but it surged late last month after its website offered top holders a chance to dine with Trump on May 22. It's currently down nearly 85% from its peak.