Trump Meme Coin (TRUMP) Skyrockets 22% as Former President Makes First Public Statement

President Donald Trump made the first public statement on his newly launched meme coin on Tuesday, stating that he knows little about it.

President Donald Trump on Tuesday made his first public statement on his meme coin, revealing that he is largely unaware of its status.

The lighthearted moment occurred as Trump was fielding questions from reporters during his first White House news conference.

A journalist asked Trump whether he would continue selling products that personally benefit him, specifically mentioning the Official Trump (TRUMP) meme coin.

“I don’t know if it benefited me; I don’t know where it is,” the president said. “I don’t know much about it other than I launched it. I heard it was very successful. I haven’t checked where is it today.”

When the journalist suggested that he had made “several billion dollars” from the venture, Trump replied, “That is peanuts for these guys.”

The comments come as the meme coin, which was launched last weekend, has quickly accrued tens of billions of dollars in market valuation, creating a buzz in the cryptocurrency sector.

While the coin initially tanked on Day 1 of Trump’s presidency, perhaps due to no mention of cryptocurrencies in the inaugural address, it regained steam on Tuesday following the formation of a dedicated cryptocurrency task force by the SEC.

According to the coin’s official website, an affiliate of the Trump Organization, CIC Digital LLC, and a related entity, Fight Fight Fight LLC, hold an 80% stake in the Solana (SOL)-based asset. At a fully diluted valuation of $41.43 billion as of this writing, it would translate to a controlling stake of $33.21 billion.

Inspired by her husband's venture, First Lady Melania Trump has also launched a memecoin, called MELANIA, which has amassed over $4 billion in fully diluted valuation.

TRUMP was trading at $41.08 at the last check, up 22% in the last 24 hours, according to Benzinga Pro.