Former U.S. President Trump announced the issuance of the official meme coin TRUMP after being sworn in on January 20. According to the British Financial Times, he has sold TRUMP coins at high prices, earning at least $350 million, far exceeding market expectations.
Reports indicate that the Trump family profited significantly from the cryptocurrency market during his presidency. The operating entity behind TRUMP coin made a huge profit within the first three weeks after its issuance: "Trump's crypto project earned at least $350 million through the launch of a meme coin, raising questions about potential conflicts of interest."
Currently, most of the funds remain in the liquidity pool to maintain the price of the token. The current trading price of TRUMP coin is $11, while the Trump-related account still holds 831 million TRUMP coins, with a nominal value of up to $9.3 billion.
Although TRUMP coin is marketed as support for the TRUMP symbol and its artistic concept, the official website terms state that the token has no political attributes and is not related to any political movement or political position.
(Financial Times) further disclosed that the sales of TRUMP coins reached at least $350 million, but the actual earnings could be higher.
"According to our calculations, the liquidity pool has distributed 158 million TRUMP coins, accounting for more than 90% of the tokens currently sold. Where did the remaining small portion of tokens go?"
Reports indicate that about 14.7 million TRUMP coins have been transferred to 10 cryptocurrency exchanges such as Binance, Bybit, and Coinbase. The specific trading details of these tokens are unclear, but they were quickly sold off in the early issuance stage, leading to a significant price increase. Meme coin traders made four large deposits within the first two hours to meet the market demand for TRUMP coins.
The first 100 million of the 158 million tokens were sold at a price of $0.47 each.
The second batch of tokens was sold by another Trump-related account, earning a price difference of $5.10 per token.
The third batch of tokens further increased the earnings, with a price difference of $24.20 per token.
Additionally, on January 18, 14.7 million TRUMP coins were transferred to the exchange, with a minimum price of $11.23. British media analyzed: "The specific transfer terms of these tokens are unclear, and the method of price determination has not been disclosed. If calculated at $11.23, this batch of tokens is worth $165.1 million."
Notably, when the price of TRUMP coins exceeded $60, about 4.5 million tokens were transferred to a Binance account, further increasing the earnings for Trump's camp.
When reporters asked about the TRUMP coin, Trump responded: "I don’t know much about it, except that I initiated it and it’s very successful."