Fight Fight Fight LLC, the company behind the Official Trump (TRUMP) meme coin, is seeking to raise at least $200 million to create a Digital Asset Treasury (DAT) intended to purchase and support the token. This initiative, reported on October 8 by Bloomberg, is aimed at stabilizing the token closely associated with U.S. President Donald Trump. The fundraising ambitions are considerable, targeting upwards of $1 billion.

Commitment to Support a Floundering Token

The proposed treasury is a continuation of several efforts aimed at bolstering the TRUMP token’s value. Bloomberg states that Fight Fight Fight, led by Trump’s long-time associate Bill Zanker, is spearheading this discreet fundraising venture.

The meme coin has been struggling. Currently valued at approximately $7.56, it reflects a staggering 89% decline from its peak price of $73.43, which was registered shortly after its launch earlier this year. Although there has been a slight recovery with a 3.1% rise over the past week, it is still down 11% for the month.

Past attempts to generate enthusiasm included hosting a notable dinner with major stakeholders in May, which temporarily boosted its price. However, a separate proposal for a Trump-themed digital wallet was reportedly shelved due to disagreements with another Trump-affiliated crypto venture, World Liberty Financial.

A key element influencing the market for this meme coin is its distribution. According to analyses by Messari, only 35% of the total 1 billion tokens are currently in circulation, giving the token a circulating market cap of about $1.5 billion. The majority of the tokens remain locked and in the hands of entities connected to the president. Notably, new tokens have been entering the market nearly every week, increasing pressure on prices to decline. The new Digital Asset Treasury aims to utilize its capital to purchase TRUMP tokens on the open market to help alleviate this downward trend.

The First Family’s Expanding Crypto Interests

This fundraising strategy occurs amidst the Trumps’ growing engagement with cryptocurrency. As previously highlighted by CryptoPotato, digital assets have become the largest segment of their overall net worth due to the success of World Liberty Financial’s WLFI token, in which the family has substantial holdings, once valued at over $6 billion.

Despite the market activity, President Trump has publicly distanced himself from any direct profits derived from these cryptocurrency dealings. In an NBC News interview on May 5, he stated, “I haven’t even looked” when inquired about the asset—though analysts noticed substantial transfers of tokens to exchanges by related parties, indicating potential sales.