PANews reported on May 6th that according to Fortune magazine, Chainalysis data shows that since the Meme coin TRUMP was launched earlier this year, its creators have earned over $320 million in transaction fees. After the first announcement of Trump's dinner, the trading activity of this meme coin surged, and its price subsequently rose. However, the Trump family can earn money without selling any meme coins. According to its white paper, out of the total supply of 1 billion TRUMP tokens, 20% are in circulation, with half invested in decentralized exchange liquidity pools. CIC Digital, a Trump Group affiliated company, profits by charging a 0.3% transaction fee. Blockchain analysis company Nansen points out that this model does not rely on price fluctuations but continuously generates revenue through trading volume. Currently, 80% of the tokens remain locked and belong to Trump-related companies.
US Democratic politicians criticize that this model could become a channel for anonymous individuals to improperly influence the president. Although Trump denied focusing on price fluctuations in an NBC interview, data shows that transaction fees related to the Trump dinner announcement week reached $1.3 million.
