Donald Trump Denies Profiting from TRUMP Token Amid Ownership Scrutiny
May 5, 2025, 8:24 a.m.
8 sources
positive
Donald Trump has rejected allegations that he is personally profiting from the TRUMP memecoin, which launched just before his presidential inauguration. Reports from Chainalysis indicated that the TRUMP token generated $900,000 in fees over two days for its backers. The token's largest holders are companies linked to Trump-related entities, collectively holding 80% of the coin's supply. Despite claims of indirect benefit, Trump insisted that any financial advantage would be incidental, comparing it to stock ownership. The TRUMP token, though down from an all-time high of $44.19, currently trades at around $11.20, marking a 20% rise over the past month. The White House announced that the top 220 holders of the TRUMP token would be invited to a presidential dinner. Additionally, Eric Trump is set to speak at Consensus 2025 in Toronto.
Heightened media attention and presidential association could spur speculative interest, supporting short-term demand despite recent price decline; long-term outlook remains highly volatile.
Sources
Donald Trump gives conflicting answers over memecoin profits
Cointelegraph
05.05.2025 06:11
US President Donald Trump Made Very Special Statements About Memeconi TRUMP and Cryptocurrencies! Will He Donate His Crypto Profits?
Bitcoin Sistemi
05.05.2025 07:26
Donald Trump Denies Claims of Profiting From TRUMP Token
CoinDesk
05.05.2025 07:49
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