Latest news with #FightFightFightLLC
Gizmodo
17-07-2025
- Business
- Gizmodo
Trump's Meme Coin Empire Is About to Explode With Millions of New Tokens
Millions of Trump meme coins could flood the crypto market starting this week, potentially reshaping the future of one of the most controversial cryptocurrencies in circulation. Entities affiliated with President Donald Trump now have the right to sell a large portion of the meme coin named after him, $TRUMP, starting Wednesday July 17. The move could unlock hundreds of millions of dollars in digital tokens, intensifying scrutiny over Trump's growing involvement in crypto and raising fresh questions about potential conflicts of interest. The $TRUMP token launched on January 17, just three days before Trump officially returned to the White House. A total of 1 billion $TRUMP tokens were created, but only 200 million have been circulating in the market. The remaining 800 million, or 80 percent of the total supply, are held by two entities: CIC Digital LLC, a Trump Organization affiliate, and Fight Fight Fight LLC, another company tied to the former president, according to the official $TRUMP website A vesting schedule outlined on the site allows the token creators to gradually release more of the supply over a three-year period. Back in April, CIC and its partners were permitted to sell up to 40 million tokens but chose not to. As of July 17, they are authorized to sell an additional 50 million. That brings the total available for sale to 90 million $TRUMP tokens, almost half of the current circulating supply. At current market price of $10.06, those tokens are worth more than $900 million. So far, it is unclear whether Trump-linked entities plan to sell. But one potential buyer has already stepped up: crypto billionaire Justin Sun. 'We are committed to buying $100M of $TRUMP! Together, $TRUMP and #TRON are the future of Crypto,' Sun posted on X on July 9. 'This move highlights our belief in collaborating across ecosystems to grow the crypto landscape with communities such as @GetTrumpMemes.' '$TRUMP on #TRON is the currency of #MAGA!' Sun is no stranger to controversy. In March 2023, the U.S. Securities and Exchange Commission charged him with fraud and market manipulation, accusing him of artificially inflating trading volume for his TRX and BTT tokens and paying celebrities to promote them without proper disclosure. We are committed to buying $100M of $TRUMP! Together, $TRUMP and #TRON are the future of Crypto. This move highlights our belief in collaborating across ecosystems to grow the crypto landscape with communities such as @GetTrumpMemes.$TRUMP on #TRON is the currency of #MAGA!… — H.E. Justin Sun 🍌 (@justinsuntron) July 9, 2025If CIC Digital and its partners choose to sell the newly unlocked tokens, it would dramatically increase the $TRUMP coin supply, testing the strength of demand and the staying power of Trump's crypto brand. The timing is crucial. $TRUMP has already seen wild fluctuations. It briefly hit $73.43 the day before Trump's second inauguration, giving it a market cap of $14.7 billion. Today, it has crashed to around $2 billion, wiping out more than $12 billion in market value. Despite the collapse, the Trump crypto ecosystem has been a moneymaker. The initial $TRUMP launch earned Trump-linked companies more than $350 million in transaction fees, according to blockchain analytics firm Chainalysis. Like credit card processors or ticketing platforms, the entities behind $TRUMP take a cut every time someone buys or sells the token. The coin itself has no underlying utility. Like all meme coins, $TRUMP has no intrinsic value or real-world use case. Its price is driven almost entirely by hype, fandom, and political alignment. Still, Trump's allies are treating it as a serious business. The website puts it bluntly: 'Trump memes are intended to function as an expression of support for, and engagement with, the ideals and beliefs embodied by the symbol $Trump.' The meme coin is just one part of a much broader and growing Trump family crypto empire. In May, Justin Sun attended a Trump-hosted dinner for top crypto investors at his golf club in Virginia. The event drew criticism from Democrats, who warned that Trump's involvement in crypto opens him up to foreign influence and corruption risks. The two entities controlling the majority of $TRUMP tokens do not disclose the president's personal stake, making it impossible to know how much Trump himself owns. Meanwhile, his sons are building out their own blockchain ambitions. In September 2024, they launched World Liberty Financial, WLFI, a crypto firm whose stablecoin, USD1, is pegged to the U.S. dollar and has already reached a market value of $2.2 billion, according to CoinGecko. While President Trump was listed as 'co-founder emeritus' prior to re-entering office, Donald Jr., Eric, and Barron Trump are all listed as co-founders. In March, Eric Trump teamed up with crypto mining company Hut 8 to launch American Bitcoin Corp, where he now serves as chief strategy officer. The company went public in May and already holds around $22 million worth of Bitcoin, with plans to acquire more. Bitcoin mining, the process of using powerful computers to generate new Bitcoins, is energy-intensive but can be highly profitable, especially in a bull market. Since returning to power, Trump has declared himself the 'crypto president.' And unlike his predecessor Joe Biden, whose the SEC was notoriously aggressive toward the sector, Trump's administration has embraced crypto with open arms. Enforcement actions against crypto firms have been paused or dropped. The SEC issued guidance suggesting even meme coins should not be classified as securities. Major U.S. exchanges like Coinbase have resumed or expanded listings of meme tokens and other riskier assets. In this environment, the Trump family has found fertile ground to build and profit from blockchain-based ventures. But the stakes are enormous. If Trump-linked entities dump their $TRUMP holdings onto the open market, it could either validate the coin's staying power or crash its value and open the president to new criticism. For now, the crypto world is watching and waiting.
Yahoo
17-06-2025
- Business
- Yahoo
Everything Investors Should Know About the $TRUMP Meme Coin
About 40% of $TRUMP buyers lost money. $TRUMP is currently trading at about 85% less than its all-time high. Political tokens may be a new type of meme coin. 10 stocks we like better than Official Trump › The first thing investors should know about the Official Trump (CRYPTO: TRUMP) coin is that it isn't an investment. Even its website says so. The site says the token is a way to express support for the ideals embodied by its $TRUMP symbol, but is not intended as an investment of any type. That makes it a true meme coin. The second thing people should know is that many buyers have lost money, at least on paper. Chainalysis data shows that about 40% of the wallets that bought $TRUMP are down on their investments, according to CNBC. In contrast, the people behind the project have made more than $324 million in trading fees. Plus, 58 wallets have seen gains of more than $10 million. The token is the best-known incarnation of a new type of crypto: PolitiFi. In this article, I'll look at what PolitFi is, who's behind $TRUMP, and whether anyone should buy it. The Official Trump coin was built on the (CRYPTO: SOL) blockchain and launched just a few days before the presidential inauguration in 2025. It initially soared to a high of $73.43, according to CoinGecko data. At the time of writing (June 16), it is trading at just over $10, down about 85% from its high. An initial 200 million tokens were released, with the remaining 800 million creator-controlled tokens vested during three years. The first release of vested tokens was due in April, but the group delayed it by 90 days. This structure is designed to stop creators from selling tokens early in a project. Even so, a limited number of people still control a large proportion of tokens. It's surprisingly hard to know who runs the Official Trump coin. According to its website, 80% of $TRUMP is owned by Fight Fight Fight LLC and CIC Digital, an affiliate of the Trump Organization. The Trump Organization is led by the president's sons, Eric Trump and Donald Trump Jr. However, Donald Trump Jr. told CNBC that he was not involved in the creation of the coin. Fight Fight Fight LLC was listed by William Zanker in Delaware. Bloomberg reports that Zanker has several Trump-adjacent businesses. In May, the Permanent Subcommittee on Investigations wrote to Zanker asking for clarity on the ownership and management structure of the organization, among other things. Most recently, Eric Trump said World Liberty Financial -- a Trump family decentralized finance venture -- would "acquire a substantial position in $TRUMP for their Long-Term Treasury." There are certainly strong connections between people, companies, and organizations close to the Trump family and the coin. Politics meet crypto in what's being dubbed PolitFi. It's a bit soon to give this trend a name, since we've only really seen $TRUMP, $MELANIA (called Official Melania Meme), and LIBRA (CRYPTO: LIBRA) in Argentina. LIBRA, endorsed by Argentina President Javier Milei on social media, turned into a scandal. The coin creators made millions of dollars by selling shortly after Milei's post, while retail investors lost their cash. Whether they are endorsed by politicians or celebrities, meme coins carry a high risk of fraud. They are cheap to create and aren't intended as investments. Plus, the Securities and Exchange Commission (SEC) has washed its hands of meme coins, stating that they are not securities. There are also ethical questions about oversight. PolitFi lets individuals circumvent existing political fundraising regulations, particularly those around foreign interference. One reason people might buy $TRUMP is as a type of fan token -- similar to those of the Manchester City and FC Barcelona football teams. You may feel it's a way of being part of the Trump community. Politics aside, you might speculate that its price may rise, particularly if the president mentions it again on social media. However, this can be risky. It is difficult to buy or sell at the right point in time, and there are no guarantees that the price will go up. As the LIBRA scandal in Argentina showed, it's the insiders who are in the best position to profit from meme coin speculation. Ultimately, if you're considering buying $TRUMP as an investment, there are a lot of assets with better prospects. You might consider Bitcoin (CRYPTO: BTC), which has more of a track record than any other crypto and is gaining traction as a hedge against market turmoil. Or, if you want a way to get exposure to meme coins without buying the tokens themselves, consider Solana. The platform has become a popular choice for meme coin creators, which is good for Solana holders. Ultimately, the Official Trump coin does not make sense as a long-term investment. In addition to its less-than-transparent leadership structure, its tokenomics are a major red flag. When insiders control 80% of any token, it is too easy for them to manipulate the price -- even with a three-year vesting period. Before you buy stock in Official Trump, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Official Trump wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,702!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $870,207!* Now, it's worth noting Stock Advisor's total average return is 988% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Emma Newbery has positions in Solana. The Motley Fool has positions in and recommends Bitcoin and Solana. The Motley Fool has a disclosure policy. Everything Investors Should Know About the $TRUMP Meme Coin was originally published by The Motley Fool Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Arabian Post
06-06-2025
- Business
- Arabian Post
Trump Family Issues Legal Challenge Over Unauthorised Crypto Wallet
World Liberty Financial , a cryptocurrency firm closely linked to President Donald Trump and his family, has sent a cease-and-desist letter to Fight Fight Fight LLC and NFT marketplace Magic Eden. The legal action follows the announcement of a new digital wallet branded as the 'Official $TRUMP Wallet by President Trump,' which the Trump family asserts was launched without their approval. The disputed wallet was unveiled earlier this week through the X account associated with the $TRUMP memecoin, a cryptocurrency project initiated by Fight Fight Fight LLC. The company, reportedly connected to longtime Trump associate Bill Zanker, partnered with Magic Eden to promote the wallet, inviting users to join a waitlist. However, the Trump family has publicly denied any involvement with the project. Donald Trump Jr., Eric Trump, and Barron Trump have all issued statements distancing themselves from the wallet. Eric Trump cautioned against the unauthorized use of their family name, while Donald Trump Jr. emphasized that the Trump Organization had no connection to the project. He also revealed that the family is developing their own official wallet through World Liberty Financial. ADVERTISEMENT World Liberty Financial, co-founded by the Trump family, has been actively expanding its presence in the cryptocurrency space. The firm has launched its own stablecoin, USD1, and is reportedly working on a crypto wallet focused on token yield generation. The company has attracted significant investment, including a $2 billion infusion from a firm associated with the Abu Dhabi government. The emergence of the unauthorized $TRUMP Wallet has led to confusion and concern within the crypto community. The wallet's website has experienced intermittent outages, and its X account has been suspended. Despite these issues, neither Fight Fight Fight LLC nor Magic Eden has commented on the dispute. The Trump family's foray into cryptocurrency has been marked by controversy. The $TRUMP memecoin, launched in January 2025, saw an initial surge in value before experiencing a significant decline. While the token generated substantial revenue through trading fees, it also raised ethical questions regarding the president's dual role as a public official and a private entrepreneur. Critics argue that the intertwining of the Trump family's business interests with their political influence poses potential conflicts of interest. The lack of clear boundaries between governance and private enterprise has led to calls for greater transparency and regulatory oversight in the rapidly evolving crypto industry.
Yahoo
23-05-2025
- Business
- Yahoo
Trump uses ‘personal time' to meet with mysterious crypto investors
President Donald Trump spent 'personal time' with cryptocurrency investors at a dinner on Thursday, which his spokesperson described as not being 'a White House dinner.' During a press briefing earlier on Thursday, White House Press Secretary Karoline Leavitt was asked by Garrett Haake from NBC News about the dinner with the president. The dinner was held with 'the top 220 $TRUMP Meme Coin Holders,' according to an online registration page. Haake asked Leavitt if a list of attendees would be made available for the sake of transparency. 'The president is attending it in his personal time,' Leavitt replied. 'It is not a White House dinner. It's not taking place here at the White House.' Not discussed was the price of admission. Anonymous cryptocurrency buyers in attendance paid between $55,000 to $37.7 million, NBC News reported. The top 220 winners were invited to a black-tie optional dinner at Trump's golf club in Washington, D.C. 'FOR THE TOP 25 COIN HOLDERS, YOU are invited to an Exclusive Reception before Dinner with YOUR FAVORITE PRESIDENT!' the registration page read. In small text down the registration page, it stated that Trump was only to appear as a guest 'and is not soliciting any funds for [the dinner].' The event was organized by Fight Fight Fight LLC, one of two Trump-affiliated companies that owns 80% of the $TRUMP coin project, NBC News wrote. But the line about 'personal time' received criticism online. The Bulwark's Tim Miller said on X that 'personal time' is not something presidents have. 'There's not like a magic suit you wear when you are doing official business and one where you are just Donald from Queens,' Miller wrote in his post. Longtime Trump critic, lawyer George Conway, shared Miller's post on X and added his own commentary. 'Actually, it's fine,' Conway wrote. 'If Trump is saying he's doing something on his 'personal time,' then obviously that means he's not acting within what the Supreme Court calls 'the outer perimeter of his official responsibility,' which, in turn, means he's not immune from criminal prosecution.' Conway referred to last year's Supreme Court decision on presidential immunity. 'Oh (expletive) what an incredibly great point!' MeidasTouch's editor-in-chief, Ron Filipkowski, commented on Conway's post. 'Karoline Leavitt just took away his presidential immunity defense.' In The New Republic, Malcolm Ferguson wrote that one of Trump's top crypto spenders is called 'SUN,' which is held by a Seychelles-based crypto exchange known as HTX. 'The president is having a private dinner for anonymous foreigners who bought his cryptocurrency — a scam in and of itself — and is acting as if he's just taking a personal day that will have no impact on American politics," Ferguson wrote. A similar term was used during Trump's first term, called 'executive time,' Axios reported in 2019. This amounted 60% of his official schedule, spent watching television, reading papers and posting tweets (when X was known as Twitter). Most of 'executive time' was not spent in the Oval Office. 'Executive time' was a concept introduced to Trump by his former chief of staff, John Kelly, 'because the president hated being locked into a regular schedule,' Axios wrote. This private schedule could last as long as seven hours. Harvard foreign students feel like 'poker chips,' consider transfer after Trump attacks Federal judge blocks Trump admin from revoking Harvard enrollment of foreign students Got 'Trump Derangement Syndrome?' GOP lawmakers want the NIH to study an 'epidemic on the left' Trump threatens Apple with 25% tariff if it doesn't make iPhones in the US Trump Commerce boss gets put on blast with 'no pain' tariff claim Read the original article on MassLive.
Hindustan Times
23-05-2025
- Business
- Hindustan Times
Donald Trump's dinner for memecoin holders gets ‘shame, stop crypto corruption!' chants
President Donald Trump on Thursday hosted an exclusive dinner for hundreds of top investors of his 'memecoin' cryptocurrency at his golf club outside of Washington, with protesters yelling 'shame' at the guests. Trump flew in to attend the gala and meet the 220 biggest purchasers of his $TRUMP memecoin. Citing an event website, news agency AFP reported that the top 25 investors were to get a private session with Trump beforehand and a tour of the White House. The President had announced the launch of his crypto just three days before his inauguration in January, resulting in a quick surge in his net worth and prompting ethical questions at the same time. On Thursday, the White House dismissed any concerns over ethics and insisted that Trump was attending the dinner in his "personal time". Ahead of the exclusive gala for memecoin investors, Trump took to his Truth Social network and posted, "Heading to the Crypto Dinner in Loudon County, Virginia, in a little while. The U.S.A. is DOMINATING in Crypto, Bitcoin, etc., and we are going to keep it that way!" Meanwhile, around 100 protesters were heard screaming "Shame!" and "I hope you choke on your dinner!" within the range of the security checkpoint at Trump's golf club as guests arrived for the event. They also held up signs like "America is not for sale" and "Memecoin grifters go to jail" at the venue. The demonstrators were protesting against alleged crypto corruption. Some other signs also read "no kings" and "stop crypto corruption". Democrats decry memecoin investor dinner Democrats also criticised Trump's gala for his memecoin investors, describing it as an "orgy of corruption". Senator Elizabeth Warren slammed him for "using the presidency of the United States to make himself richer through crypto". Senator Richard Blumenthal of Connecticut, during an interview earlier this month, referred to the dinner and said, "In effect he is putting a 'For Sale' sign on the White House lawn." Holders of the Trump memecoin had to register on an online leaderboard to qualify for the dinner. The leaderboard tracked their average holdings over a period of three weeks. Following this, the top 220 holders of $TRUMP memecoin got invited, of which the top 25 were called for a special pre-dinner reception with the President. According to a Bloomberg report, memecoin's market cap reached nearly $15 billion soon after its launch in January. However, it has since taken a sharp dive to about $2.9 billion. The announcement of the dinner gala at Trump's golf club modestly boosted the memcoin's price. Fight Fight Fight LLC and CIC Digital LLC, an affiliate of The Trump, share 80 per cent of the memecoin's total supply. The Trump family has expanded its network of crypto businesses. Last year, Trump, along with his sons Donald Jr and Eric Trump, launched World Liberty Financial. The venture has raised more than $550 million.
