Trump's DAT Play: Can Insider-Controlled Treasury Save Plummeting Token?

Fight Fight Fight LLC, the firm behind Donald Trump's memecoin, is seeking to raise at least $200 million to establish a digital-asset treasury (DAT) aimed at stabilizing the struggling token. The initiative, led by Bill Zanker, a longtime Trump associate, could expand to $1 billion if investor interest materializes, though the plan remains in development and may not proceedtitle1^[1]. The DAT would accumulate the TRUMP token, which has plummeted from a peak of $44 in January to around $8 as of October 2025, according to CoinGeckotitle2^[2]. This marks Zanker's latest effort to revitalize the token after earlier attempts, such as a Trump-branded crypto wallet, were derailed by disputes with another Trump-linked firm, World Liberty Financialtitle3^[3].

The TRUMP token's market dynamics remain challenging. Approximately 35% of its total supply is currently unlocked, giving it a circulating market value of roughly $1.5 billion, while the remaining 65%-largely held by Trump-affiliated entities-remains locked but is gradually being releasedtitle4^[4]. The token's supply is capped at 1 billion, with 800 million initially locked at launch. Major holders include Justin Sun, a crypto entrepreneur and World Liberty Financial advisor, who attended a May dinner with top TRUMP token holders hosted by Trumptitle5^[5]. Despite these efforts, the token's price has continued to decline, trading at around $7.54 as of October, down over 11% month-on-monthtitle6^[6].

The DAT initiative aligns with a broader trend in 2025, as over 80 digital-asset treasury firms have launched to manage volatile tokens. Many of these entities saw valuations dip after initial surges, reflecting the sector's cyclical naturetitle7^[7]. Zanker's DAT could face similar challenges, particularly given the TRUMP token's association with concentrated ownership. Trump-linked entities retain 80% of the token supply, generating $300 million in revenue from its initial surge but drawing scrutiny over market manipulation riskstitle8^[8]. Analysts note that the DAT's success will depend on sustained investor confidence and regulatory clarity, as similar projects have struggled with volatility and transparency concernstitle9^[9].

The Trump family has expanded its crypto footprint beyond the memecoin, launching ventures in Bitcoin mining, stablecoins, and exchange-traded funds. These efforts reflect a strategy to consolidate influence across the digital-asset ecosystem. However, the TRUMP token's struggles highlight the risks of celebrity-backed projects. In May, Trump hosted an exclusive dinner for top token holders at his Virginia golf club, a move critics argued blurred public and private interests. Meanwhile, Melania Trump's separate memecoin, MELANIA, has faced controversy over unexplained token sales and a 98% price collapse since its January launch.

The DAT's potential impact remains uncertain. While Zanker aims to stabilize the TRUMP token, the broader memecoin market remains speculative. Over 80% of the token's supply is still controlled by insiders, and its value is tied to ongoing promotional efforts and regulatory developments. The Trump family's crypto ambitions underscore the intersection of politics and digital finance, yet the TRUMP token's trajectory suggests that market forces and governance transparency will ultimately determine its success.