Donald Trump is posting about TRUMP again
The entities behind President Donald Trump’s cryptocurrency venture have amassed nearly $100 million in trading fees in under two weeks, according to estimates from three blockchain analysis firms. The windfall comes from a project that has seen tens of thousands of small traders lose money.
The meme coin, called $Trump, launched on January 17 and rapidly surged, peaking at a total market value of over $14.5 billion by January 19—the day before Trump’s inauguration. However, its value has since fallen by two-thirds.
Three crypto data firms, including Merkle Science and Chainalysis, analyzed blockchain transactions involving $Trump for Reuters. Their estimates suggest that by January 30, the token had generated between $86 million and $100 million in trading fees—far surpassing previously reported figures.
One of the entities tied to the crypto coin is CIC Digital, a company owned by Trump. The official $Trump website states that CIC Digital will "receive trading revenue derived from trading activities" of the meme coin. However, Reuters was unable to determine how much of the collected fees, if any, have gone directly to Trump or the identities of the other entities involved.
Blockchain analysis showed that the coin’s creators receive a portion of trading fees from Meteora, a little-known crypto exchange where $Trump was initially sold.
According to Chainalysis, at least fifty of the coin’s largest investors have made over $10 million each, while approximately 200,000 smaller traders lost money on the exchange.
Trump has pledged to place his assets in a trust managed by his children upon entering the White House. When asked about the trading fees, his son Eric Trump, speaking for the Trump Organization, told Reuters that he is proud of what they have “continued to accomplish in crypto,” adding that "$Trump is currently the hottest digital meme on earth.”
“We are just getting started,” he added.
The White House responded to Reuters’ inquiries with a two-page fact sheet detailing Trump’s recent executive order on digital financial technology but did not address the specific questions regarding trading fees.
Trump has positioned himself as the first “crypto president”, vowing to make the U.S. the “crypto capital of the planet” through regulatory changes and greater promotion of digital assets. Several key figures in his administration and inner circle hold cryptocurrency or have ties to the crypto industry.
However, the significant sums surrounding Trump’s crypto ventures and their opaque financial structure have drawn criticism from ethics experts and political opponents.
"There's an ethical concern that, in effect, he has the power to regulate his own business," said Richard Briffault, a law professor at Columbia University.
Reuters was unable to determine how much of Trump’s personal wealth comes from his latest crypto enterprise, as precise ownership details remain undisclosed. His other crypto-related investments include two decentralized finance (DeFi) projects—which enable direct transactions without traditional banks—and a series of non-fungible tokens (NFTs).