- US President Donald Trump gave contradictory statements about whether he has profited from his cryptocurrency venture during a recent NBC interview.
- Trump’s memecoin has made approximately $350 million since its January launch, with 80% of tokens owned by Trump-affiliated companies.
- Despite criticism over potential conflicts of interest, Trump has reiterated his support for cryptocurrency, citing concerns about China‘s influence in the sector.
US President Donald Trump offered contradictory responses about profiting from his cryptocurrency venture during a recent NBC News interview, days after returning to the White House. When pressed by interviewer Kristen Welker about benefiting financially from his memecoin, Trump initially denied making any profit before later suggesting otherwise.
“I’m not profiting from anything,” Trump stated when asked about criticism regarding his cryptocurrency ventures. However, when Welker specifically questioned whether he was profiting from the cryptocurrency, Trump admitted, “I haven’t even looked. But I’ll tell you what. Look, if I own stock in something and I do a good job, and the stock market goes up, I guess I’m profiting.”
The Official Trump (TRUMP) token launched on January 17 reached $73.43 two days later, according to CoinGecko. Since then, the token has declined significantly, now trading at $11.35 — down nearly 85% from its peak. The token recently surged after its website announced top holders could dine with Trump on May 22.
Two Trump-affiliated companies — CIC Digital LLC, a Trump Organization affiliate, and Fight Fight Fight LLC, co-owned by CIC Digital — together control 80% of the token’s 1 billion supply. According to a Financial Times analysis, the project has generated at least $350 million, with $314 million from token sales and $36 million from fees.
Conflict of Interest Concerns
Trump faces criticism over potential conflicts of interest as he promotes cryptocurrency while benefiting financially from his token. Even Republican Senators Cynthia Lummis and Lisa Murkowski have voiced concerns about his dinner offer to top token holders.
When asked if he would contribute potential crypto earnings alongside his presidential salary, Trump responded, “I never thought of that. I mean, should I contribute all of my real estate that I’ve owned for many years if it goes up a little bit because I’m president and doing a good job? I don’t think so.”
Cryptocurrency Policy Stance
Despite controversy, Trump reaffirmed his support for cryptocurrency during the interview, stating, “I want crypto. I think crypto’s important because if we don’t do it, China’s going to. And it’s new, it’s very popular, it’s very hot.”
CBS News reporter Jennifer Jacobs reported on X that Trump emphasized the importance of keeping cryptocurrency “away from China,” claiming they would “take it over, just like AI, just like so many other industries.”
Trump incorrectly stated that former President Biden ran against him in the last election, when it was actually then-Vice President Kamala Harris who challenged him after Biden stepped aside.
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