Trump Family-Linked Firms Earned $320 Million from TRUMP Memecoin
Trump's Crypto Involvement and Profits
U.S. President Donald Trump has shifted from criticizing cryptocurrency to actively participating in it, leading to substantial profits for his family.
- Trump's family reportedly increased their net worth by $2.9 billion, with 40% now in crypto assets.
- A bipartisan stablecoin bill failed due to concerns over Trump's profits from the sector.
- The TRUMP token peaked at $77.26 but is now trading at $10.80, an 86% drop; MELANIA token fell over 97% to 33 cents.
- Chainalysis reports that 760,000 wallets lost money on the TRUMP token, while a few wallets profited over $10 million.
- CIC Digital LLC and Fight Fight Fight LLC own 80% of the TRUMP token supply, benefiting from trading activities.
- World Liberty Financial, linked to Trump, raised around $590 million in DeFi earlier this year.
- Trump's NFT sales generated approximately $8 million in revenue.
- A private dinner hosted for TRUMP token holders included many foreign entities or offshore exchanges banned in the U.S.
- Senators have called for an investigation into Trump's ethics regarding his crypto dealings.
The Trump family's deep ties to crypto are raising significant political and regulatory scrutiny.