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Did Trump Make a Profit from Meme Coin? He Responded to the Claims! - Coin Bulletin
Donald Trump denied the claims that he profited from the TRUMP memecoin. However, it is reported that significant revenues were generated from major investors in the token.
The TRUMP token, launched recently and promoted by Donald Trump before his presidency, is being closely monitored lately. According to a report by Chainalysis, the token generated a profit of $900,000 in just two days.
However, Trump claims that he has no financial interest and states that he is not tracking the performance of this token. "If I am a shareholder of something and things go well, then I am making a profit," Trump said, but emphasized that he has not earned any income from the token.
The TRUMP token is associated with companies managing Trump’s NFT collection and is largely controlled by CIC Digital LLC and Fight Fight Fight LLC. These two companies hold 80% of the token. Additionally, the White House is planning to invite the 220 people who hold the most of the token to dinner with the President.
In recent weeks, the TRUMP token has shown a very active market chart, currently trading at around $11.20. Although this price is significantly lower than the all-time high of $44.19, it has seen a 20% increase in the last month.