The company behind President Donald Trump’s memecoin is seeking $200 million to build a treasury aimed at supporting the token’s price, which has plunged 90% from its peak.
The startup behind US President Donald Trump’s official memecoin is seeking to raise at least $200 million to build a digital-asset treasury aimed at buying back the token, which has collapsed about 90% from its peak.
Fight Fight Fight LLC, led by Trump ally and longtime promoter Bill Zanker, is spearheading the effort, Bloomberg reported on Wednesday, citing people familiar with the matter. The funding target could reach as high as $1 billion, although the deal remains in its early stages and may not materialize.
The move marked the latest attempt to revive the token’s price, which has plunged from its all-time high of $75 in January to about $8, according to CoinMarketCap data. The Official Trump (TRUMP) is down more than 10% over the past month.
Read more