$TRUMP Trump Denies Profiting from Memecoin TRUMP: What's the Reality?
Donald Trump has denied profiting from his memecoin, TRUMP, despite mounting evidence suggesting otherwise. In a recent interview with NBC's Meet the Press, Trump claimed, "I'm not profiting from anything. I don't even know how it's doing."
However, blockchain data and financial reports reveal a different story. Trump's affiliated entities, CIC Digital LLC and Fight Fight Fight LLC, control nearly 80% of the token's total supply, potentially generating substantial gains as the token's value appreciates. The project has already generated over $350 million, with $314 million from sales and $36 million from token fees.
Key Facts
- *TRUMP Memecoin Launch*: Launched on January 17, 2025, the memecoin reached an all-time high of $73.43 a day before Trump's inauguration on January 20, 2025.
- *Financial Performance*: The project has generated over $350 million, with a significant surge in value after Trump invited top token holders to dinner, resulting in a 74% price increase.
- *Investor Reaction*: The memecoin's value has since plummeted by 89% from its peak, leaving many investors with significant losses, including a trader who lost $207,000.
- *Upcoming Token Unlock*: A token unlock worth $321 million is scheduled for release, which could further impact the memecoin's value ¹ ².
Controversy and Skepticism
Trump's denial of profiting from the memecoin has been met with skepticism, given the significant financial ties between his affiliates and the project. The contrast between Trump's televised denial and the documented reality raises questions about transparency, ethics, and the use of political influence for private financial gain ².
