Trump Meme Coin Surges, Generates Millions in Fees

Since its launch before the inauguration, TRUMP, a meme coin associated with former U.S. President Donald Trump, has generated at least $11.4 million in fees for entities linked to the president. According to an analysis by crypto risk modeling company Gauntlet, the majority of these fees were earned by CIC Digital LLC and Fight Fight Fight LLC, which provided liquidity to the Meteora platform to support TRUMP transactions.

Gauntlet co-founder and CEO Tarun Chitra stated that the fees generated by TRUMP were comparable to those during the heyday of meme coins. However, the actual fee revenue may be much higher, as a significant amount of TRUMP was quickly sent to exchanges such as Binance and OKX, making it difficult to calculate the corresponding profits.

It is worth noting that the rapid growth and popularity of TRUMP have raised concerns about the potential risks and regulatory challenges associated with meme coins. As the crypto market continues to evolve, investors and regulators alike will be closely monitoring the developments surrounding TRUMP and other meme coins.