Donald Trump Launches $TRUMP Memecoin, Ties Back to CIC Digital LLC

With inauguration day just around the corner, Donald Trump is making time for what truly matters — launching a memecoin.

Donald Trump has announced the launch of his own memecoin, $TRUMP, through a series of posts on Twitter and Truth Social.

The coin, which carries the slogan "Fight, fight, fight!," is priced at $0.10 and claims to represent "everything we stand for: WINNING!"

However, scepticism arose almost immediately after the posts, with many assuming that Trump's accounts were hacked and being used to promote a fraudulent token that would be rugpulled soon.

Despite the posts being live for over eight hours, there has been no statement from Trump or his team indicating otherwise.

The token is based on the Solana blockchain and has already seen a market value of $24 billion. This comes as Solana's native cryptocurrency rises by 10% on the day, while the broader crypto market sees losses.

The tokenomics of the project have raised concerns among some, with blockchain investigator CoffeeZilla highlighting the coin's distribution.

"80% owned by one wallet. Public distribution is 10%, Liquidity 10%. That is a wild distribution for a meme coin," he tweeted.

According to the official website, there is a total supply of 200 million $TRUMP tokens available at launch, which will grow to one billion tokens over three years.

Only 20% of the supply is currently accessible to the public and liquidity pools, while the remaining 80% is allocated across six "Creator and CIC Digital Groups" that begin unlocking after 3-12 months and vest over 24 months.

The $TRUMP memecoin is linked to CIC Digital LLC, a Trump-owned entity that has previously overseen the sale of Trump-branded NFTs, sneakers, and other merchandise.

According to filings, CIC Digital generated over $7 million in licensing revenue last year by using Trump's name across various products.

Experts have noted that CIC Digital's model of licensing Trump's name to external companies without clear oversight creates a "black box" where profits and partnerships remain largely hidden.

Kyle Baird is DL News’ Weekend Editor. Got a tip? Email at kbaird@dlnews.com.