U.S. President Donald Trump gave conflicting responses on whether he has financially benefited from his own cryptocurrency project during a Meet the Press interview released May 4.
When pressed by NBC’s Kristen Welker about profiting from the Official Trump (TRUMP) memecoin launched in January, Trump responded, “I haven’t even looked,” and insisted, “I’m not profiting from anything.” However, he added, “If I own stock in something and I do a good job, and the stock market goes up, I guess I’m profiting.”
The token, which launched three days before Trump’s inauguration, soared to $73.43 before sharply falling. It is now trading at $11.35, down 85% from its peak.
Ownership disclosures show that 80% of the token’s 1 billion supply is held by Trump-linked entities: CIC Digital LLC and Fight Fight Fight LLC. The first token unlock occurred on April 18, with 40 million tokens—worth $454 million at the time—transferred to CIC Digital. The remainder is scheduled to unlock gradually through 2028.
A March Financial Times report estimated the token project generated at least $350 million, including $314 million from token sales and $36 million in fees.
Trump appeared unaware of recent market moves, repeatedly asking during the interview how much the token was currently worth. When asked if he would donate crypto earnings like his presidential salary, Trump said, “I never thought of that,” and questioned whether real estate gains tied to his presidency should also be donated.
The project has drawn bipartisan scrutiny. Critics, including Republican Senators Cynthia Lummis and Lisa Murkowski, raised concerns over ethical conflicts as Trump pushes to scale back crypto regulation. The memecoin’s website recently offered top holders a private dinner with the president, scheduled for May 22.
Despite criticism, Trump reiterated his support for crypto both in the interview and again on the White House South Lawn, telling reporters that digital assets are “very important” and warning that “China will take it over” if the U.S. doesn’t lead.
