Trump's Big Hit in the Cryptocurrency World
Donald Trump once again created a big wave in the cryptocurrency space, but this time not because of Token Issuance. In just 100 days back in office, Trump's meme coin, named TRUMP, has generated over $320 million in profits for organizations affiliated with him. Issued just before he returns to the White House, the value of this coin soared.
Attractive Promises
Major investors were also promised a private dinner with Trump, increasing attention. However, as regulators gradually become more lenient with cryptocurrencies, experts are concerned about the possibility of a sitting president benefiting from these business ventures.
Controversy About Profits
In an interview with NBC News, Trump gave conflicting responses when asked about profits from TRUMP. Initially, he affirmed he made no profits, but then acknowledged he had "never looked", adding that if stocks rise when doing well, "I guess I'm making money".
Management and Interests
Trump's team denied any conflict of interest, but with potential billions of dollars from these Tokens and cryptocurrency transactions related to his brand – such as a $2 billion investment from Abu Dhabi – concerns about ethics and influence continue to grow.
Price Increases and Drops
The TRUMP Token, launched on January 17, 2025, reached a peak of $73.43 before the inauguration. However, it subsequently dropped nearly 85%. Nevertheless, the Token has recently increased after Trump promised a private dinner for top owners on May 22, 2025. Currently, it is trading around $11.35.
Control and Criticism
According to reports, two organizations affiliated with Trump's business empire – CIC Digital LLC and Fight Fight Fight LLC – control 80% of the 1 billion TRUMP Token supply. These Tokens are locked and will be gradually released until 2028. In April 2025, CIC Digital unlocked $454 million in Tokens.
Trust and Criticism
Trump continues to express support for cryptocurrencies, warning that if the United States does not innovate, China might dominate the industry. However, some critics, including Republican senators, have questioned Trump's transactions, arguing they could conflict with interests as he promotes cryptocurrency deregulation.
