Trump claims he does not know how much profit he has made from the launch of the official Trump memecoin. Trump claims he does not know the value of the memecoin he holds. On Sunday, May 4, Meet The Press aired an interview with Donald Trump about the economy, foreign policy, and many other issues. The conversation also touched on his involvement in cryptocurrency.
At one point in the interview, host Kristen Welker asked Trump about his own memecoin, the official Trump token (TRUMP). On April 23, this token surged 70% after Trump announced that the largest holders would be invited to an exclusive dinner with him. You might also like: 5 top cryptocurrency charts shaping the first 100 days of Trump’s presidency
When asked if he benefited from the presidency, Trump quickly stated that he didn’t even consider the performance of his memecoin. Instead, he shifted attention to other politicians like Nancy Pelosi, whom he accused of using insider information to trade stocks.
“Look, if I own stock in something and it does well, and the stock market goes up, I guess I’m making a profit. But the real person making a profit is someone like Nancy Pelosi, who uses insider information. She works with a salary of $175,000 a year, and that's a high salary. And she is worth $150, 200 million dollars? Right? You should look at Nancy Pelosi and you should look at some politicians as cold-blooded crooks. I was very wealthy when I started out. Being president might end up costing me money if you really look at it,” Trump.
Official Trump is down 85.17% from ATH
Launched at Trump's inauguration in January, Official Trump has become one of the largest memecoins on the market. However, this token has been criticized for its volatility and its tokenomics. On April 16, developers withdrew $4.6 million from the project's liquidity pool, causing the token to collapse. Since peaking in January, this token has lost 85% of its value.
House Representative Nancy Pelosi has become a widely criticized target due to insider trading allegations. According to her records, she outperformed most hedge funds in 2024. Previously, many of her trades coincided with major legislative moves in their respective sectors.
