Donald Trump Denies Claims of Profiting From TRUMP Token | Breaking Crypto News & Blockchain Updates

Donald Trump Denies Claims of Profiting From TRUMP Token — Donald Trump is pushing back against claims that he’s profiting from the TRUMP memecoin, his official cryptocurrencythat launched days before hispresi...

Donald Trump is pushing back against claims that he’s profiting from the TRUMP memecoin, his official cryptocurrencythat launched days before hispresidentialinauguration.

Chainalysis recently reportedthat the TRUMP token earned $900,000 in fees in a two day span for its backers.

The wallets of the largest holders of the token are controlled by CIC Digital LLC, an entity also used for hisNFT collection, andFight Fight Fight LLC, which is co-owned by CIC Digital. Collectively, they own 80% of the TRUMP tokens.

“I’m not profiting from anything,” Trumpsaid during an interview with NBC News,adding that he hadn’t looked at the token’s performance and that any financial benefits would be incidental. “If I own stock in something, and I do a good job, and the stock market goes up, I guess I’m profiting,” he said.

The TRUMP tokenhas seen strong market activity in recent weeks. It’s currently trading around $11.20, a significant drop from its all-time high of $44.19, but still up 20% over the past month.

Recently,the White House announcedthat the largest 220 holders of the $TRUMP token would be invited for dinner with the President.

Eric Trump, the son of President Trump, will be aheadline speakerat Consensus 2025 in Toronto.

Sam Reynolds is a senior reporter based in Asia. Sam was part of the CoinDesk team that won the 2023 Gerald Loeb award in the breaking news category for coverage of FTX's collapse. Prior to CoinDesk, he was a reporter with Blockworks and a semiconductor analyst with IDC.

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