In a recent interview with NBC News’ Kristen Welker, U.S. President Donald Trump claimed he hasn’t profited from the meme coin launched by his team shortly before his inauguration. When asked directly about the cryptocurrency named after him, Trump responded, “I haven’t even looked.”
Pressed further, 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.” But he insisted he had not personally benefited from the TRUMP token in any form.
TRUMP Token Exploded Ahead of Inauguration, Then Crashed
Just days before Trump was sworn in as the 47th President in January, his team launched the Official Trump (TRUMP) meme coin, which quickly went viral. Within hours, the token surged past $70, reaching a multi-billion-dollar market cap and briefly becoming the third-largest meme coin by valuation.
However, the hype was short-lived. The subsequent launch of a “Melania” token and controversy surrounding Trump’s early days in office triggered a steep correction. By mid-April, TRUMP had plunged below $8.
In a bid to rekindle interest, the team behind TRUMP announced on its official website that the top 220 holders would receive an invitation to a special dinner with the President at one of his golf clubs in Washington, D.C.
The news reignited buying pressure, sending the token’s price soaring by nearly 100% within a few days.
On-Chain Evidence Contradicts Trump’s Claims
Despite Trump’s public claims of non-involvement, blockchain data tells a murkier story. On-chain analysts report that large amounts of TRUMP tokens have been moved to centralized exchanges in recent weeks—particularly during key price surges, such as the post-dinner announcement pump.
Similar activity was detected in January shortly after the coin’s launch, raising suspicions that insiders may have been offloading tokens during peak hype cycles.
Democrats Call for Investigation Into Meme Coin Profits
The growing controversy has prompted calls for accountability. Several Democratic lawmakers have requested a formal investigation into whether Trump or his inner circle financially benefited from the meme coin’s explosive launch and subsequent volatility.
Given blockchain’s transparency, analysts and investigators alike will likely continue scrutinizing TRUMP’s on-chain activity—and any links to the president’s financial interests.
