The company behind President Trump’s official memecoin is reportedly looking to raise $200 million to allocate to a new digital asset treasury (DAT).
Fight Fight Fight LLC wants to raise as much as $1 billion to accumulate Official Trump (TRUMP), the President’s memecoin that was launched just days before his inauguration, reports Bloomberg, citing people “familiar with the matter.”
The effort to launch a DAT – which could still fall through – aims to support the price of TRUMP, which is currently down 90% from its all-time high.
The TRUMP memecoin has spawned its share of controversy.
In a letter to the DOJ and the Office of Government Ethics earlier this year, officials at the nonprofit consumer advocacy organization Public Citizen said the memecoin could be a violation of federal law regulating gifts to government officials.
Public Citizen officials point out that the TRUMP website notes the memecoins “are not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type.”
Democrat Representative Sam Liccardo (D-CA) also introduced the Modern Emoluments and Malfeasance Enforcement (MEME) Act to prevent lawmakers from capitalizing on memecoins.
Ethereum (ETH) founder Vitalik Buterin has said that political coins represented “vehicles for unlimited political bribery,” though he didn’t mention any specific token by name.
At time of writing, TRUMP is trading at $7.55, down from its all-time high of $73.42, last seen in January 2025, shortly after the President’s inauguration.
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