Former US President Donald Trump has dismissed accusations that he is benefiting financially from the TRUMP token, a digital currency launched just before his presidential inauguration. According to a recent report by Chainalysis, the TRUMP token generated $900,000 in fees for its backers over a two-day period.
The largest holders of the token, controlling 80% of the TRUMP tokens, are CIC Digital LLC, the entity behind his NFT collection, and Fight Fight Fight LLC, co-owned by CIC Digital. In an interview with NBC News, Trump stated, 'I'm not making a profit from anything,' claiming he was unaware of the token's performance and that any financial benefits would be unintentional.
'If I own shares in something and I do a good job, and the stock market rises, then I suppose I'm making a profit,' he added. The TRUMP token has experienced significant market activity recently, currently trading at $11.20, down from its all-time high of $44.19 but still up 20% over the last month. The White House has announced plans to invite the 220 largest holders of the $TRUMP token to dine with the President. Additionally, Eric Trump, the President's son, is scheduled to be a keynote speaker at Consensus 2025 in Toronto.