The startup behind the U.S. President Donald Trump’s official memecoin is trying to raise at least $200 million to create a digital-asset treasury aimed at buying back the token, which has dropped about 90% from its record high.
According to a Bloomberg report, Fight Fight Fight LLC, led by Trump ally and longtime promoter Bill Zanker, is directing the fundraising effort.
Bloomberg said the target could reach $1 billion, though discussions are still early and may not lead to a final deal. The plan comes after the token’s price fell sharply from its January peak of $75 to around $8, according to CoinMarketCap.
Market data from Messari shows that about 35% of the Trump token’s total supply is unlocked and actively traded, which gives it a circulating market value of roughly $1.5 billion. The remaining 65%, about 800 million tokens, is held by Trump-related entities and remains locked under vesting agreements.
TRUMP Memecoin down by 11% in past month | Source: CoinMarketCap
In May, Trump attended a private dinner with about 220 holders of his memecoin, including Tron founder Justin Sun, under banners displaying the project’s slogan, “Fight Fight Fight.” Protesters gathered outside the venue, accusing Trump of “crypto corruption” and calling the event political profiteering.
Following the dinner, 35 House members asked Edward Sullivan, the acting chief of the Justice Department’s Public Integrity Section, to investigate whether the gathering broke federal bribery laws or the Constitution’s emoluments clause. Trump also drew criticism for standing behind a lectern showing the presidential seal, a move that could breach federal law.
While Fight Fight Fight’s treasury is still only an idea, other Trump-linked projects have made similar moves. In August, ALT5 Sigma Corporation announced plans to raise $1.5 billion through stock sales to fund its World Liberty Financial treasury.
Last month, 99% of WLFI token holders approved a plan to burn tokens and cut supply, using fees from liquidity pools for repurchases.
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