US President Donald Trump gave clashing answers to whether he has profited from the crypto memecoin he launched in January, just days before he re-entered the White House.<\/p>\n
In a wide-ranging interview<\/a> with Kristen Welker on NBC News\u2019 Meet the Press released on May 4, Trump said he was \u201cnot profiting from anything\u201d when asked to respond to critics who said he\u2019s profiting from the presidency through the memecoin.<\/p>\n \u201cSo you\u2019re not profiting off of the cryptocurrency at all?\u201d Welker asked Trump.<\/p>\n \u201cI haven\u2019t even looked,\u201d Trump admitted.<\/p>\n \u201cBut I\u2019ll 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\u2019m profiting.\u201d<\/p>\n Trump launched his memecoin<\/a>, Official Trump (TRUMP), on Jan. 17, which hit a peak of $73.43 two days later, just a day before he was inaugurated as president on Jan. 20, according to CoinGecko.<\/p>\n The token has been in a steady decline<\/a> since launch, but it surged late last month<\/a> after its website offered top holders a chance to dine with Trump on May 22. It’s currently trading at $11.35, down nearly 85% from its peak.<\/p>\n Trump was apparently unaware of his token\u2019s recent surge, repeatedly asking how much it was now worth.\u00a0\u00a0<\/p>\n Two companies, CIC Digital LLC, an affiliate of Trump\u2019s sprawling Trump Organization, and Fight Fight Fight LLC, which is co-owned by CIC Digital, together own 80% of the token\u2019s total 1 billion supply.<\/p>\n Most of those tokens are locked up and will be released over the next three years. The first unlock on April 18<\/a> saw 40 million tokens, worth $454 million, go to CIC Digital.\u00a0<\/p>\n Trump-controlled entities own 80% of the TRUMP token supply, which will be released periodically until 2028. Source: <\/em>Trump Meme<\/em><\/a><\/p>\n Trump\u2019s memecoin project has made at least $350 million so far, according to a March analysis<\/a> from the Financial Times, which found those behind the token made $314 million from selling them and $36 million from fees.<\/p>\n Trump has been criticized over his many crypto dealings<\/a>, which his opponents say are a conflict of interest as he looks to unburden the sector from regulators.\u00a0<\/p>\n Even those in his own party, Republican Senators Cynthia Lummis and Lisa Murkowski, have criticized Trump\u2019s dinner offer to his top tokenholders.\u00a0<\/p>\n Trump said during the interview that he would contribute his presidential salary \u201cback to the government,\u201d prompting Welker to ask if he would also contribute any potential crypto earnings.<\/p>\n \u201cI never thought of that,\u201d Trump answered. \u201cI mean, should I contribute all of my real estate that I\u2019ve owned for many years if it goes up a little bit because I\u2019m president and doing a good job? I don\u2019t think so.\u201d<\/p>\n In a part of the interview, Trump made a meandering statement that reiterated his campaign promise to support crypto.<\/p>\n \u201cI want crypto. I think crypto\u2019s important because if we don\u2019t do it, China\u2019s going to. And it\u2019s new, it\u2019s very popular, it\u2019s very hot,\u201d he said.<\/p>\n Trump claimed former President Joe Biden \u201cwent after it violently, and then, before the election, he changed his tune entirely\u201d to garner the crypto vote. Biden did not run against Trump in the last election, instead handing the baton to then-Vice President Kamala Harris.<\/p>\n Related: <\/strong><\/em>Trump\u2019s first 100 days \u2018worst in history\u2019 despite crypto promises<\/strong><\/em><\/a>\u00a0<\/p>\n The president again made his point when speaking to reporters on the White House South Lawn on May 4.<\/p>\n CBS News\u2019 Jennifer Jacobs reported<\/a> on X that Trump said \u201ccrypto is very important,” and wanted \u201cto keep it away from China.\u201d<\/p>\n He claimed China \u201cwill take it over, just like AI, just like so many other industries, or whatever you want to call them.\u201d<\/p>\nTrump reiterates crypto commitment<\/h2>\n