The President of the United States smack in the middle of a crypto circus, and everyone’s pointing fingers, shouting, he’s making bank off that TRUMP token!
But Trump? He’s waving his hands, all dramatic, saying, I’m not!
Holder distribution
The TRUMP token, his official memecoin, launched right before he strutted back into the White House.
Since then, it’s been a crazy stuff, peaked at $75.20, now limping along at around $11.20.
That’s an 85% crash, but hey, it’s still up 20% this month. If you like rollercoasters, this coin’s your ticket.
But now, the plot thickens. Chainalysis says the token raked in $900,000 in fees in just two days for its backers.
Who’s holding the bag? CIC Digital LLC and Fight Fight Fight LLC, and these are entities tied to Trump’s NFT empire.
Together, they control 80% of all TRUMP tokens. Feels a bit like your uncle’s poker night, where the house always wins.
Job done
So, what does The Donald say? In an NBC interview, he shrugs, as he haven’t even looked. Classic. He compares it to owning stock.
“If I own something and I do a good job, and the stock market goes up, I guess I’m profiting.”
But crypto? He claims it’s all incidental, just background noise to his main act. But some thinks this isn’t that clear.
The White House is inviting the top 220 TRUMP token holders to dinner with the President.
Buy enough coin, maybe you get the chicken or the fish with Don himself. Some call it a reward, others, like Senator Jon Ossoff, call it impeachable. Senator Warren wants an ethics probe. Even some Republicans aren’t loving the optics.
Patriotism
Trump’s out there saying America needs to lead in crypto or China will eat our lunch.
He’s not shy about wanting the U.S. on top, but when pressed about donating any crypto profits like his presidential salary, he shrugs again.
“Should I give away all my real estate if it goes up because I’m doing a good job? I don’t think so.”
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