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The issuer of the US President’s meme coin, Official Trump, plans to raise $200 million for a TRUMP treasury firm that would buy up the struggling token.
That’s according to a Bloomberg report, which cited people familiar with the situation saying that Trump associate and promoter Bill Zanker is leading the effort through the entity Fight Fight Fight LLC.
The venture could raise as much as $1 billion, but the effort is still ongoing and may not reach fruition, the report said.
TRUMP Meme Coin Struggles To Gain Traction
The TRUMP meme coin was launched on the Solana blockchain on Jan. 17 this year, just days before Donald Trump entered the White House for a second term. Its debut price was around $1.20, with the token’s value surging shortly after launch. On the day, the crypto went on to set an all-time high (ATH) at $75.35.
But the meme coin has since slumped 89% from its record price. Data from CoinMarketCap shows TRUMP trades down 4.4% at $7.57 as of 1:10 a.m. EST.
TRUMP price (Source: CoinMarketCap)
Despite that, TRUMP is still up more than 527% from its launch price.
TRUMP Creator Joins Growing Digital Asset Treasury Trend
The plans to launch a digital asset treasury (DAT) firm focused on TRUMP is part of a broader trend that has seen companies build reserves in a variety of cryptos.
The most well-known of those companies is Strategy, which pioneered the trend and holds billions of dollars worth of Bitcoin (BTC).
Other companies have since joined the trend. For example, BitMine Immersion Technologies and SharpLink Gaming have started building reserves around Ethereum (ETH), the largest altcoin by market cap.
Treasury firms centered on tokens like Solana (SOL), Dogecoin (DOGE), and others have also recently entered the market.
Data from PitchBook shows that more than 80 crypto treasury companies have entered the market in 2025. However, many of these digital asset treasury firms have seen their valuations slip after the initial hype.
Trump-Branded Wallet Plans Collapse
Earlier this year, Fight Fight Fight LLC announced plans to launch a “$TRUMP Wallet” in collaboration with the non-fungible token (NFT) marketplace Magic Eden. The marketing had claimed that it was the official wallet for the TRUMP meme coin, and invited users to join a waitlist.
However, Eric Trump publicly rejected the wallet on X, and said that the project was unauthorized. He also added that the Trump Organization knew nothing about the wallet.
This project is not authorized by @Trump. @MagicEden I would be extremely careful using our name in a project that has not been approved and is unknown to anyone in our organization. https://t.co/OovJGvGOkO
— Eric Trump (@EricTrump) June 3, 2025
Donald Trump Jr. said that a different wallet, which would be the actual official wallet, would be launched by another Trump-linked crypto venture, World Liberty Financial.
World Liberty Financial had reportedly sent a cease-and-desist letter to Fight Fight Fight LLC over the “unauthorized use” of the Trump name in that wallet project. Zanker’s plans to launch the wallet were then ultimately dropped.
In later interviews, Zanker tried to downplay just how severe the conflict between the two companies was. He called it a “misunderstanding” and indicated that he is still working together with the Trump family.
Majority Of Tokens Still Controlled By Trump-Linked Entities
The TRUMP token supply is still tightly controlled. Only around 35% of the crypto’s supply has been unlocked, according to Messari data. This puts the token’s market cap at around $1.5 billion.
The rest of the token’s 1 billion coins that will gradually enter circulation are mostly held by entities linked to the US President and his family.
Since the meme coin was launched, the Trump family has deepened its involvement in the crypto space. In addition to the decentralized finance (DeFi) platform World Liberty Financial, the Trumps are also involved in crypto mining.
Eric Trump’s venture capital firm acquired a stake in the decentralized predictions market platform Polymarket in a deal earlier this year as well. As part of the deal, he will join Polymarket as an adviser.
He is also involved with Metaplanet, the Japan-based Bitcoin DAT firm that holds 30,823 BTC on its balance sheet, making it the fourth-largest corporate holder of the crypto globally.
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