Donald Trump seems to be a bit... conflicted when it comes to whether he's pocketing a tidy profit from the crypto memecoin he launched in January. This coin came to life just days before he waltzed back into the White House. So, what’s the deal?
In a wide-ranging chat with NBC News’ Kristen Welker on May 4, Trump was asked whether he’s cashing in on the memecoin critics claim he’s profiting from. His answer? A mix of confusion and classic Trump-style deflection.
"So, you're not profiting off the cryptocurrency at all?" Welker asked.
"I haven’t even looked," Trump admitted. But, ever the businessman, he added, “Look, if I own stock in something and I do a good job, and the stock market goes up, I guess I’m profiting.” Classic Trump, always keeping us guessing.
President Trump's interview on NBC News
Memecoin Surge and Trump's Crypto Commitments
This all revolves around Trump’s memecoin, Official Trump (TRUMP), which he launched on January 17. Just two days later, it hit a high of $73.43 – a mere day before he became president on January 20. Since then, it’s been a bit of a rollercoaster, with the price dropping drastically. But, hold onto your hats, because last month it spiked again after his website promised top holders a dinner with Trump on May 22. As of now, the token is trading at $11.35, down almost 85% from its peak.
Trump seemed a little out of the loop regarding the coin's recent jump, repeatedly asking, "How much is it worth now?" His company might be more in the know – two entities tied to Trump, CIC Digital LLC and Fight Fight Fight LLC, own 80% of the token’s 1 billion supply.
These tokens are locked up until 2028, but the first big release came on April 18, when 40 million tokens worth a cool $454 million went to CIC Digital.
The project has already netted at least $350 million, with $314 million from sales and $36 million in fees, according to the Financial Times. But not everyone is a fan of Trump’s crypto ventures. Critics argue that it’s a glaring conflict of interest, especially as Trump pushes to loosen regulations on the sector.
Even some fellow Republicans, like Senators Cynthia Lummis and Lisa Murkowski, have raised eyebrows over his dinner offer to top token holders.
Trump's Views on Crypto and Biden's Shift
During the same interview, Trump reiterated that he’d give his presidential salary “back to the government.” Welker quickly asked if he planned to do the same with his crypto profits. His response? “I never thought of that.” Naturally.
"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," Trump said.
And let’s not forget Trump’s ongoing crypto love affair. In the interview, he made it clear that he’s still all-in on crypto.
“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,” he mused.
He also took the opportunity to trash Biden, claiming that the former president “went after it violently, and then, before the election, he changed his tune entirely” to woo the crypto crowd. (Note: Biden didn’t exactly run against Trump in the last election, as Kamala Harris was the one to take up the mantle.)
Trump didn’t stop there. On May 4, speaking to reporters on the White House South Lawn, he doubled down, declaring, "Crypto is very important," and stressing the need to keep it “away from China,” claiming China would dominate the sector, just like AI and other industries.
Trump said he's a big fan of cryptocurrency -- "I want to keep it away from China."
— Jennifer Jacobs (@JenniferJJacobs) May 5, 2025
He said he favors it because "otherwise China will take it over, just like AI, just like so many other industries, or whatever you want to call them. Crypto is very important." https://t.co/vuYreia9G4
Abimbola Adu
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