An 80% share of the Trump token is owned by a Trump Organization affiliate called CIC Digital LLC, and a related entity called Fight Fight Fight LLC — whose name echoes the words Trump mouthed after a bullet grazed his ear during the campaign trail. Their holdings will be unlocked over a three-year period.
To Gautam Chhugani of Bernstein, a meme coin “capitalizing on Trump’s brand and politics, has potential longevity.” And while some may “cringe,” he adds that this marks the start of a “new crypto regulatory era.”
According to the website, 200 million of the tokens immediately became available, a supply that will grow to 1 billion over three years.
The small print on the website states the token isn’t intended to be an “investment opportunity, investment contract, or security of any type.” Major exchanges like Coinbase Global Inc. and Binance Holdings Ltd. nonetheless said during the weekend that they intended to list the token on their platforms. Robinhood Markets Inc. announced on Monday that it too had listed the token.
Jonathan Yark, senior quantitative trader at crypto market maker Acheron Trading, said the memecoin “confirmed that digital assets and, most importantly, Bitcoin will have the backing of the US which presents significant opportunity.”
