Former President Donald Trump continued to make conflicting statements about the potential profits from the meme coin 'Official Trump (Official Trump·TRUMP)' launched in January. On the 4th of this month, during an appearance on NBC News' 'Meet the Press', Trump claimed, "I am not making any profits from anything" when criticized for potentially using the presidential position for personal gain through the meme coin.
When interviewer Kristen Welker asked again if he had not gained any profits from cryptocurrency, Trump responded that he "hasn't even looked into it" but added that "if I own stocks and the stock price rises because I've done good things, it could be considered that I'm making a profit." This is interpreted as an explicit denial while leaving open the possibility of indirect benefits.
The TRUMP Token was officially launched on January 17th, and according to CoinGecko data, it reached a peak of $73.43 on January 20th, a day before Trump's presidential inauguration. Since then, the price has continued to decline, currently standing at around $11.35, which is nearly 85% down from its peak.
Recently, the token price temporarily rebounded after a website announcement offering top TRUMP Token holders the opportunity to have dinner with the former president. However, Trump reportedly was unaware of this price increase and repeatedly asked about the current token price.
The meme coin is jointly held by Trump Group affiliate CIC Digital LLC and its subsidiary Fight Fight Fight LLC, which own 80% of the total 1 billion tokens issued. Most of these tokens are locked up and will be gradually released over the next three years. The first release occurred on April 18th, during which CIC Digital received 40 million tokens, worth approximately $454 million at the time.
The industry is closely watching the symbolic significance and risks of this meme coin, linking Trump's political influence with its corporate structure. Controversy is expected to continue, as there is a potential for value appreciation and investment attraction due to his presidential status, regardless of actual profit.
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