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>>The company creating Trump-themed digital assets is looking to raise $200 million to manage a digital asset treasury.

The company creating Trump-themed digital assets is looking to raise $200 million to manage a digital asset treasury.

crypthub

5 days ago

Fundraising Initiative for TRUMP Token

Fight Fight Fight LLC, the creator of the Official Trump (TRUMP) meme coin, aims to raise at least $200 million, with ambitions reaching $1 billion, to establish a Digital Asset Treasury (DAT). This treasury intends to purchase the token, representing a direct intervention to stabilize its value. The fundraising is being led by Donald Trump’s associate, Bill Zanker, and follows previous attempts to boost the token's appeal. The token's value has significantly declined since its launch.

Token Performance and Supply Concerns

The TRUMP token has experienced a considerable drop in value, trading significantly below its all-time high. Its performance has been challenging, prompting efforts to sustain its price. A large portion of the total token supply remains locked up, held by individuals and groups associated with the president. Weekly releases of new tokens are applying constant selling pressure.

Trump Family and Cryptocurrency

The Trump family's involvement in digital assets is expanding, with cryptocurrency becoming a significant portion of their net worth. This stems from the success of the WLFI token and the TRUMP meme coin. Despite this involvement, President Trump has publicly denied direct profit from the cryptocurrency. Recent reports indicate related entities have transferred the token to exchanges.

Treasury’s Intended Function

The proposed Digital Asset Treasury aims to buy TRUMP tokens on the open market, potentially reducing selling pressure. The treasury’s activities are designed to counter the constant influx of new tokens released into circulation. This purchase strategy intends to positively influence the token’s market stability.