Trump Defends Crypto Memecoin Ties, Denies Profiting from $TRUMP Token Amid Controversy

U.S. President Donald Trump has denied personally profiting from the Official Trump ($TRUMP) memecoin, despite mounting evidence of significant earnings linked to entities tied to him. In a recent interview with Kristen Welker on NBC News’ Meet the Press, aired May 4, Trump insisted he had no direct involvement in the token’s financial success.

“I haven’t even looked,” Trump said, responding to a question about whether he was making money from the memecoin. “I’m not profiting from anything.”

Welker pressed further, asking if he profited at all from the cryptocurrency. Trump dodged with a broader analogy:

“If I own stock in something and I do a good job, and the stock market goes up, I guess I’m profiting.”

$TRUMP Token: A Rapid Rise and Long Decline

The Official Trump token launched on Jan. 17, just days before his re-entry into the White House. It briefly peaked at $73.43 on Jan. 19, but has since fallen drastically, trading at $11.35 at the time of writing — down nearly 85% from its all-time high, according to CoinGecko.

The token regained some traction late last month after its official website promised top holders a chance to dine with Trump on May 22, prompting a renewed surge in interest. Trump, however, appeared unaware of this development during the interview, repeatedly asking how much the token was currently worth.

Who Owns the TRUMP Token?

Despite his public denial of profit, Trump-linked entities control the majority of the token’s supply. Two companies, CIC Digital LLC (affiliated with the Trump Organization) and Fight Fight Fight LLC (co-owned by CIC Digital), reportedly hold 80% of the 1 billion token supply.

While most of these tokens are locked under a vesting schedule over the next three years, the first unlock on April 18 sent 40 million tokens — worth roughly $454 million — to CIC Digital.

According to a March analysis by the Financial Times, those behind the project have already generated over $350 million, including $314 million from token sales and $36 million in transaction fees.

Political Backlash and Ethics Questions

Trump’s involvement in cryptocurrency has drawn criticism, especially given his ongoing efforts to deregulate the sector. Even within his own party, figures like Republican Senators Cynthia Lummis and Lisa Murkowski have criticized his use of crypto as a campaign and influence tool — including the controversial dinner offer for top tokenholders.

Asked if he would consider donating any crypto profits the same way he has pledged to donate his presidential salary, Trump replied:

“I never thought of that. Should I contribute all of my real estate if it goes up because I’m president? I don’t think so.”

Trump Reaffirms Pro-Crypto Stance

Despite the controversy, Trump doubled down on his support for crypto during the interview and again later while speaking to reporters on the White House South Lawn on May 4.

“I want crypto. I think crypto’s important because if we don’t do it, China’s going to,” he said. “It’s new, it’s very popular, it’s very hot.”

He also accused former President Joe Biden of waffling on crypto policy to court voters, even though Biden did not run against Trump in the last election.

CBS News reporter Jennifer Jacobs further quoted Trump as saying:

“Crypto is very important. We have to keep it away from China.”

As Trump attempts to balance crypto enthusiasm with political optics, scrutiny over his personal financial ties to the $TRUMP memecoin is likely to intensify in the months ahead.