Despite generating $900,000 in two days through entities associated with him, Donald Trump claims that he does not personally profit from the $TRUMP memecoin.
900,000 dollars in two days, but ‘no profit’
Launched a few days before the presidential inauguration, the $TRUMP memecoin is causing a stir. While on-chain data reveals massive gains for its creators, Donald Trump affirms that he does not benefit personally from the project. This statement raises questions, especially considering that 80% of the tokens are held by two entities close to him.
A token on the rise after the announcement of a private dinner
Despite its price being significantly lower than its historical peak of $75, the $TRUMP token is currently trading around $11.20, up 20% in the last month. This positive momentum comes as the first announcements regarding the token’s ‘utility’ have been revealed.
The latest communication move is that the White House plans to invite the top 220 token holders to a dinner with the president. This initiative further strengthens the association between Trump and the token, despite his attempts to distance himself.
