Key Points:
- Trump denies profiting off the $TRUMP memecoin despite reports indicating substantial earnings from related wallets.
- The TRUMP token, associated with Trump’s NFT collection, is primarily managed by CIC Digital LLC and Fight Fight Fight LLC.
- The White House plans to host the top 220 holders of the $TRUMP token at a dinner with the President.
Recent Developments
Trump has refuted suggestions that he’s benefiting financially from the TRUMP memecoin, which was launched shortly before his inauguration as president. Data from Chainalysis suggested that the token generated $900,000 in fees within just two days for those backing it.
The major wallets holding this token are operated by CIC Digital LLC, which is also linked to his NFT collection, and Fight Fight Fight LLC, both collectively holding 80% of the tokens.
In a recent interview, Trump remarked, “I’m not profiting from anything,” clarifying that any financial gains would be incidental, while also comparing it to stock profits.
Market activity for the TRUMP token has been robust recently, presently trading close to $11.20, which, while lower than its peak of $44.19, indicates a 20% increase over the past month. Additionally, the White House recently announced plans to invite significant holders for a dinner with the President. Eric Trump, the President’s son, is also slated to be a keynote speaker at Consensus 2025 in Toronto.
