PANews reported on March 7 that according to the Financial Times, Trump's cryptocurrency project has made at least $350 million in profit by launching the $TRUMP meme coin. Blockchain data analysis shows that within three weeks of the project's launch in January 2024, the operating entity earned $314 million in revenue by selling tokens and collected $36 million in fees. In addition, Trump may have also earned additional income by selling some tokens through exchanges such as Binance.
The project's website Gettrumpmemes.com shows that "Trump Organization affiliate CIC Digital LLC" and Delaware company Fight Fight Fight LLC jointly hold 80% of the tokens. Although the project is officially endorsed by Trump, it is operated by Fight Fight Fight LLC and is not distributed or sold directly by Trump or his affiliates.
Some investors and ethics experts warned that the project could provide a channel for anonymous donations and take advantage of retail investors. Tim Massad, former chairman of the U.S. Commodity Futures Trading Commission and professor at Georgetown University Law School, said that the president should not profit from such means while in office and believed that this practice was "very inappropriate."
