There’s strong evidence that President Trump’s push for cryptocurrency is proving to be quite beneficial.
Recent reports indicate that the unlocking of Trump’s meme coins is projected to increase his wealth by around $100 million.
A report from Messari, a crypto research firm, suggests that a group associated with Trump will be able to sell $90 million worth of Trump tokens starting Thursday.
With this, Trump’s share of these coins adds approximately $93 million to his existing fortune of $6.4 billion. His total net worth doesn’t account for the value of previously locked coins.
Additionally, up until mid-June, he reportedly made about $150 million from transactions involving these meme coins, according to an analysis by the crypto risk modeling company Gauntlet.
Following the initial launch, which generated 200 million coins, the unlocking is expected to boost the circulating supply by 45%.
In less than three years, the total amount of coins in circulation could reach 1 billion. By that time, 800 million of those would have originally been locked and controlled by entities tied to Trump.
However, increased supply may put downward pressure on the price of these meme coins.
Like many meme coins, the $Trump Token holds no real intrinsic value; it heavily relies on Trump’s popularity, which makes it susceptible to volatility.
Interestingly, the price of the token climbed more than 10% last week after Justin Sun, the founder of Tron Blockchain, announced on social media that he plans to purchase $100 million worth of coins.
Sun has emerged as a significant holder in the meme coin space.
This month, his Tron Network began to support meme coins following a surge in crypto exchanges that raced to list Trump-related coins previously.
Sun even participated in a VIP event with Trump, where he gifted Trump a branded tourbillon watch.
Despite being sued by the Securities and Exchange Commission in 2023, Sun also serves as an advisor to World Liberty Financial, the Trump family’s crypto venture.
The fraud and market manipulation charges against Sun were dismissed back in February.
The 800 million locked Trump Meme Coins are split between entities known as CIC Digital LLC and Fight Fight LLC, though it’s unclear how exactly they divide the coins.
After this week’s unlocking, 510 million tokens will become available over the next two years, with an additional 200 million starting to roll out in January.
Cryptocurrency has become a significant financial booster for the Trump family, adding approximately $620 million to their wealth since his election victory in November.
According to a spokesperson from the White House, Trump’s assets are held in a trust that he manages during his second term, and he asserts that his business activities do not pose any conflicts of interest.
Eric Trump, managing the Trump organization on behalf of his family, is also a shareholder in a Bitcoin mining operation set to be acquired by Griffon Digital Mining, which, as reported, could potentially be worth over $4.5 billion.
