The company behind US President Donald Trump’s official memecoin is aiming to raise at least $200 million to establish a digital-asset treasury focused on buying back the token, which has dropped approximately 90% from its peak.
Fight Fight Fight LLC, led by Trump ally and long-time promoter Bill Zanker, is leading this initiative, as reported by Bloomberg on Wednesday, citing informed sources. The funding goal could escalate to $1 billion, though the arrangement is still in its preliminary stages and might not materialize.
This effort represents the latest strategy to revitalize the token’s price, which has plummeted from its peak of $75 in January to around $8, based on CoinMarketCap data. The Official Trump (TRUMP) has decreased by more than 10% in the past month.
As per Messari, approximately 35% of the Trump token’s supply is currently accessible and tradeable, giving it a market value of $1.5 billion. The remaining 65%, roughly 800 million tokens, is held by Trump-related entities and locked under vesting schedules.
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Trump’s memecoin dinner sparks protests
In May, Trump participated in a private dinner with major holders of his memecoin, where around 220 attendees, including Tron founder Justin Sun, enjoyed filet mignon and halibut under “Fight Fight Fight” decorations. Outside, over 100 demonstrators criticized the event as political profiteering, holding signs accusing Trump of “crypto corruption.”
Following the gathering, 35 House members called upon the public integrity section acting chief, Edward Sullivan, to initiate an investigation into the memecoin dinner to assess whether it breached the federal bribery statute or the foreign emoluments clause of the US Constitution.
As Cointelegraph reported, Trump also faced criticism after addressing the audience while standing behind a lectern featuring the official presidential seal, which may be against federal law.
Related: Melania Trump promotes memecoin as team faces $10M sale claims
ALT5 Sigma to build World Liberty Financial treasury
While Fight Fight Fight’s token treasury is still theoretical, other Trump-affiliated initiatives have already initiated similar projects.
In August, ALT5 Sigma Corporation revealed plans to secure $1.5 billion through the sale of 200 million common shares at $7.50 each. The proceeds will be utilized to develop its World Liberty Financial (WLFI) corporate treasury.
Last month, 99% of WLFI holders also endorsed a token-burning strategy to decrease the supply and enhance the token’s value. Under this plan, fees from WLFI-managed liquidity pools will be allocated for token repurchases, which will then be permanently eliminated from circulation through burn processes.
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