Trump claims he doesn’t know how much he profited from the launch of the Official Trump memecoin
Trump claims he doesn’t know what his memecoin holdings are worth. On Sunday, May 4, Meet The Press published an interview with Donald Trump about the economy, foreign politics, and more. The conversation also involved his involvement in crypto.
At one point in the interview, host Kristen Welker asked Trump about his own memecoin, the Official Trump (TRUMP) token. On April 23, the token surged 70% after Trump announced that top holders would be invited to an exclusive dinner with him.
When asked whether he was profiting from the presidency, Trump quickly stated that he hadn’t even looked at how his memecoin was performing. Instead, he redirected attention to other politicians like Nancy Pelosi, who he accused of using insider information to trade stocks.
“Look, if I own stock in something and I do a good job, and the stock market goes up, I guess I’m profiting. But who really profits is somebody like Nancy Pelosi, who uses inside information. She worked for $175,000 a year, and that’s at the high end. And she’s worth $150, $200 million? Okay? You ought to look at Nancy Pelosi and you ought to look at some of these politicians that are stone cold crooks. I was very wealthy when I came in. Being president probably cost me money if you really look,” Trump.
Official Trump down 85.17% from ATH
Launched during Trump’s inauguration in January, the Official Trump became one of the biggest memecoins on the market. Still, the token has attracted criticism due to its volatility and tokenomics. On April 16, developers took out $4.6 million from the project’s liquidity pool, causing the token to crash. Since its peak in January, the token has lost 85% of its value.
House Representative Nancy Pelosi has been the target of extensive criticism due to her alleged insider trading. According to her filings, she outperformed almost all hedge funds in 2024. In the past, many of her trades coincided with big legislative moves in the respective industries.
