TechFlow reported on March 7 that according to the UK's Financial Times, Trump’s cryptocurrency project has generated at least $350 million through the launch of the $TRUMP meme coin. Blockchain data analysis by the outlet revealed that within three weeks of $TRUMP's launch in January, the entity operating the project earned this sum from token sales—$314 million from direct token sales and $36 million in fees. In addition to the $350 million earned from directly selling $TRUMP tokens on Solana, Trump may have generated even more revenue by selling small amounts of tokens via cryptocurrency exchanges such as Binance.
The project website, Gettrumpmemes.com, states that "CIC Digital LLC, an affiliate of The Trump Organization," and the Delaware-based company Fight Fight Fight LLC jointly own 80% of the tokens. Although the product carries official endorsement from the president, the project is operated by Fight Fight Fight LLC and is “not distributed or sold by Trump himself, The Trump Organization, or any of their respective affiliates or principals.”
Investors and ethics experts say that selling crypto tokens effectively creates a channel for funneling anonymous donations to the president, while also exploiting retail investors. Tim Massad, visiting law professor at Georgetown University Law Center and former chair of the U.S. Commodity Futures Trading Commission, said: “The President of the United States should not be profiting from his office while in office—it sets a terrible precedent.”
