- Market impact, Trump claims no personal profit, 80% token supply held by Trump entities.
- TRUMP token price surged after dinner announcement.
- Senators demand ethics investigations over TRUMP token controversy.
US President Donald Trump publicly denied any personal financial gain from the TRUMP memecoin, stating he is unaware of the coin’s market performance. This statement follows claims of significant earnings in transaction fees related to his affiliates.
Trump’s denial of personal benefit from the TRUMP memecoin comes as blockchain analysis indicates potential indirect gains. Legislative calls for ethics investigations have arisen due to exclusive event perks offered to major token holders.
Trump Affiliated Entities Control 80% of TRUMP Memecoin
Donald Trump’s statement, asserting no personal profit from the TRUMP memecoin, follows reports linking him to substantial fee income. The token, largely controlled by entities associated with Trump, has drawn scrutiny. Leading figures have pointed to ethical concerns regarding its centralized control, which accounts for 80% of the supply. The potential financial implication seen by analysts is notable, given the meme token’s quick monetary surge.
A recent decision to offer White House dinners to major token holders has catalyzed market activity and invited political debate. Market implications are clear—the TRUMP token witnessed a price spike post-event announcement. Lawmakers’ reactions were mixed, with some demanding ethical scrutiny, citing possible legal conflicts.
“I’m not profiting from anything. I haven’t even looked,” implying he was unaware of the coin’s performance and gains. He framed the situation with an analogy to stock ownership: “If I own stock in something, and I do a good job, and the stock market goes up, I guess I’m profiting.”
Legislation and Market Tensions Rise Around ETH Descent
Did you know? President Trump’s association with the TRUMP memecoin has triggered a broader discussion about crypto’s role in political fundraising, contrasting to past political figures’ dealings with digital assets.
According to CoinMarketCap, the TRUMP token is priced at $11.17, with a market cap of $2.23 billion and a 24-hour trading volume of $535.06 million. Despite a 0.18% drop over the past day, the token has faced a significant 27.33% decline over the week. Current supply figures indicate over 199.99 million tokens circulating from a maximum cap near 1 billion.
Insights from Coincu suggest regulatory debates may escalate as financial implications unfold. Historical data highlights the volatility associated with meme coins, often driven by speculative or symbolic value. The Coincu research team noted that regulatory bodies are likely to increase scrutiny on memecoins entangled with political identities.
Source: https://coincu.com/335750-trump-denies-trump-memecoin-profit/