Trump's memecoin raised $350M, sparking copycats, linked to scandals, facing proposed bans.

From Cointelegraph.com

March 7, 2025 07:43:41 AM:

US President Donald Trump’s cryptocurrency project has made $350 million from the TRUMP memecoin launch. Entities involved earned $314 million from token sales and $36 million in fees. CIC Digital and Fight Fight Fight own 80% of tokens. Trump launched 1 billion TRUMP tokens, with 158 million in a liquidity pool.

Trump-linked accounts sold 100 million tokens under $1.05, then put $291 million back into liquidity pools. They spent $1 million on tokens at $33.20 to stabilize prices. TRUMP’s price dropped 82% to $75. Trump-affiliated accounts still hold 831 million tokens worth $10.8 billion.

The TRUMP memecoin sparked 700 copycats and is linked to the Libra token scandal. Proposed legislation aims to ban presidential memecoins. New York plans criminal penalties for memecoin rug pulls. Regulators clarify memecoins aren’t securities but fall under other regulations.

Read more at Cointelegraph: Donald Trump’s memecoin generated $350M for creators: Report