Donald Trump Denies Accusations of Profiting from TRUMP Token
According to market data, TRUMP token has increased by 20% in the last month
Sam Reynolds | Edited by Parikshit Mishra May 5, 2025, 7:49 AM
Here's what:
- President Trump denies making money from the $TRUMP memocoin, despite reports of significant profits from related wallets.
- The TRUMP token, associated with the entities managing the Trump NFT collection, is primarily controlled by CIC Digital LLC and Fight Fight Fight LLC.
- The White House plans to invite the 220 largest holders of the $TRUMP token to dinner with the president.
Donald Trump is denying claims that he is profiting from the TRUMP memecoin, his official cryptocurrency launched just days before his presidential inauguration.
Chainalysis recently reported that the TRUMP token generated $900,000 in fees for its backers in just two days.
The wallets of the token's primary holders are controlled by CIC Digital LLC, the organization that is also responsible for collecting its NFTs, and Fight Fight Fight LLC, which is jointly owned by CIC Digital. Together, they own 80% of the TRUMP tokens.
“I’m not making a profit on this,” Trump told NBC News, adding that he hadn’t tracked the token’s performance and that any financial gains would be incidental. “If I own shares of something and I do a good job and the stock market goes up, I figure I’m making a profit,” he said.
The TRUMP token has been active in the market in recent weeks. It is currently trading around $11.20, which is significantly lower than its all-time high of $44.19, but still up 20% compared to last month.
The White House recently announced that the top 220 holders of the $TRUMP token would be invited to dinner with the president.
Eric Trump, President Trump's son, will be the keynote speaker at the Consensus 2025 conference in Toronto.
