David Edwards
President Donald Trump has offered conflicting remarks regarding whether he has profited from his self-branded cryptocurrency, the “Official Trump” (TRUMP) memecoin, launched in January just days before he assumed office for a second term.
In a May 4 interview with Kristen Welker on NBC’s Meet the Press, Trump insisted, “I’m not profiting from anything,” when asked about potential financial gains from the TRUMP token. Yet, when pressed further, he conceded, “I haven’t even looked,” and compared the situation to stock market appreciation benefiting shareholders: “If I own stock in something and I do a good job, and the stock market goes up, I guess I’m profiting.”
The TRUMP token peaked at $73.43 on Jan. 19, the day before his inauguration, but has since declined significantly, currently trading around $11.35—a drop of nearly 85%. Its recent uptick in activity followed a promotional event where top tokenholders were promised a dinner with Trump on May 22.
Entities tied to Trump, namely CIC Digital LLC and Fight Fight Fight LLC, together control 80% of the token’s total 1 billion supply. These holdings are subject to a structured release schedule through 2028. The first unlock, which occurred on April 18, released 40 million tokens—valued at $454 million at the time—directly to CIC Digital.
Despite Trump’s repeated assertions of detachment, analysis by the Financial Times in March indicated that the TRUMP token project has already generated at least $350 million in revenue—$314 million from token sales and $36 million from associated fees.
Critics, including some Republican lawmakers such as Senators Cynthia Lummis and Lisa Murkowski, have expressed concerns about conflicts of interest, especially as Trump seeks to reduce regulatory burdens on the cryptocurrency industry. His recent offer to dine with major tokenholders further inflamed such criticisms.
When asked whether he would contribute potential crypto profits to the government as he does with his presidential salary, Trump dismissed the idea: “I never thought of that. I mean, should I contribute all of my real estate that I’ve owned for many years if it goes up a little bit because I’m president and doing a good job? I don’t think so.”
In reaffirming his stance on digital assets, Trump emphasized crypto’s strategic significance. “I want crypto. I think crypto’s important because if we don’t do it, China’s going to,” he stated. Speaking again on May 4 on the White House South Lawn, he reinforced that position, stating crypto is “very important” and needs to be shielded from Chinese influence.
