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According to Financial Times, meme coin Oficial Trump (TRUMP) has raked in at least $350 million for entities involved in the project. This staggering amount consists of $314 million from token sales and an additional $36 million in fees generated on the Solana blockchain.
Who’s Really Profiting from TRUMP?
The official website of the memecoin, GetTrumpMemes.com, states that CIC Digital, an entity linked to The Trump Organization, along with the Delaware-based firm Fight Fight Fight, holds 80% of the TRUMP token supply.
Although Donald Trump’s personal earnings from the project remain undisclosed, blockchain analysis suggests that associated wallets have pocketed massive sums.
The Financial Times traced TRUMP token transactions from their creation to official wallets and subsequent sales on Solana-based platforms. Their findings reveal that the first 100 million TRUMP tokens were sold shortly after launch for under $1.05 per token.
Market Manipulation and Artificial Price Support?
The report raises serious concerns about potential market manipulation.
➡️ After the initial token sales, $291 million USDC was reportedly funneled back into a liquidity pool—presumably to stabilize the market and support the price.
➡️ Researchers also discovered that on January 19 and 20, Trump-linked accounts spent $1 million buying their own tokens at a price of $33.20 per TRUMP, at a time when the memecoin was under selling pressure. This coincided with the launch of Melania Trump’s own memecoin, MELANIA, which may have added further turbulence to the TRUMP token price.
From Explosive Debut to Massive Price Drop
On January 19, TRUMP reached an all-time high of $75, but since then, its price has plunged by 82%.
Despite this sharp correction, Trump-linked entities still hold a staggering 831 million TRUMP tokens, which, at the current valuation, are worth around $10.8 billion on paper.
The rise of presidential memecoins remains a controversial phenomenon. The TRUMP token has already inspired over 700 copycats, drawing comparisons to the Libra scandal involving Argentinian President Javier Milei.
Regulatory Scrutiny and Legal Fallout ⚖️
The success of the TRUMP token hasn’t gone unnoticed by U.S. lawmakers.
- Democratic Congressman Sam Liccardo has introduced a bill to prohibit government officials and their family members from investing in memecoins or other crypto assets.
- On March 5, New York lawmakers proposed a bill introducing legal penalties for memecoin rug pulls, signaling increasing political concern over the risks associated with such projects.
As the intersection of politics and crypto continues to blur, one question remains: Is TRUMP a revolutionary asset or just another memecoin cash grab?
