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Despite Controlling 80% of Supply, Donald Trump Denies Profiting From $TRUMP Token
By: crypto mode|2025/05/05 19:45:01
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Donald Trump claims he’s not making money from the TRUMP token — despite controlling entities that hold 80% of the supply and generate hundreds of thousands of dollars in fees. In a recent interview with NBC, the former president downplayed concerns about profiting from the token bearing his name: “I’m not profiting from anything,” he said, adding that he hadn’t even checked how the coin was doing. Then came a caveat: If I own stock in something, and I do a good job, and the market goes up, I guess I’m profiting. — Trump Trump Distances From his own Token But the data tells a different story. The token generated $900,000 in transaction fees in just two days. The top wallets holding TRUMP are controlled by CIC Digital LLC —the same firm behind the president’s NFTs— and Fight Fight Fight LLC, which it also co-manages. Together, they control 80% of the token’s total supply. A March analysis by the Financial Times estimated the project has already brought in at least $350 million: $314 million from token sales and another $36 million in fees. The president has not disputed those figures, but maintains he’s not involved in the day-to-day management of the token. The token, which peaked at $73.43 on Jan. 19, has since cratered nearly 85% and now trades around $11.08 at press time. The token, despite bouncing back 20% in mid-April, lost around 27% in just one week. Moreover, the president appeared unaware of the drop, asking during the interview what the coin was worth now. The project received fresh attention in late April after the TRUMP website announced a dinner invitation for top token holders scheduled for May 22. Critics —including Republican Senators Cynthia Lummis and Lisa Murkowski —have called the move unethical, arguing it blurs the line between personal enrichment and public office. Read more: Pi Network Likely To Fall Below $0.60 Amid Token Unlock & Weak Sentiment: Analysis READ ALSO Pi Network Likely To Fall Below $0.60 Amid Token Unlock & Weak Sentiment: Analysis Sui Network Price Slows Down After Massive Rally, But DeFi Inflows Tell a Bullish Story Disclaimer This article is provided for information only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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