The official Trump meme coin is currently hovering around $16.50 — a far cry from its $75 peak. Whether insiders cashed in or traders got rugged, one thing is certain: President Donald Trump reportedly made a killing.

According to the New York Times, the Trump family and various partners raked in nearly $100 million in trading fees. And guess what? Most of that hasn’t even been cashed out yet.

Recall how Trump launched the coin just three days before taking office, seemingly indicating that a new revenue stream was among his presidential priorities.

Make-America-Great-Again supporters embraced it. At the very least, it was another way for Trump to monetize the MAGA brand — just like he had done with hats, NFTs, a DeFi platform, sneakers and bibles.

After all, meme coins — of which the total market cap hovers $100 billion — operate in a free-for-all market where many investors, or insiders, drive up prices before bailing, leaving latecomers with zilch.

Famous people (i.e. Hawk Tuah Girl and Andrew Tate) who attached themselves to these coin launches are often scrutinized for this type of activity. The Trump family is no different. However, the president’s endorsement of an “Official Trump” token attracted a lot of first-time crypto buyers, as reported by Axios. And Trump, as president, is in a posit

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Author: Anthony Patrick