After a staggering fall of nearly 90% from its peak market valuation, the issuer of the Trump memecoin, Fight Fight Fight, is in negotiations to acquire the US branch of the investment platform Republic.com.
Potential Acquisition
If the deal comes to fruition, it could allow users of Republic to engage in transactions utilizing the Official Trump memecoin, while also presenting new funding opportunities for crypto startups. Reports from Bloomberg cite anonymous sources familiar with the discussions, indicating that they are confidential and may involve various potential partners.
Fight Fight Fight and CIC Digital, associated with The Trump Organization, currently hold an 80% share in the Trump memecoin.
Republic has been instrumental in over 3,000 fundraising initiatives, catering to both retail and accredited investors, backed by firms like Galaxy Digital and Binance’s venture arm. The platform has also advocated for the blockchain-based tokenization of real-world assets.
Market Dynamics
Initially launched in January, just before Trump’s second inauguration, the memecoin saw its market cap soar to approximately $9 billion, but has since fallen to around $1.64 billion, as reported by CoinMarketCap.
In the past week, Fight Fight Fight announced plans to raise $200 million for a digital asset treasury aimed at acquiring more of the memecoin. Additionally, yesterday, World Liberty Financial, another Trump-affiliated crypto venture, declared it would distribute $1.2 million worth of WLFI tokens to early participants of its USD1 stablecoin loyalty program.
Coinbase’s Acquisition
The potential acquisition of Republic coincides with Coinbase’s recent $375 million acquisition of the onchain fundraising platform Echo, created by notable crypto influencer Cobie to facilitate community investments in private funding rounds.
In just eight months, Echo has successfully raised a minimum of $51 million through 131 completed deals, including a partnership with Ethena, known for one of the season’s rapidly expanding yield-bearing stablecoins.
