Fresh data from Chainalysis shared with CNBC sheds light on a tale of two investor groups that invested in the Official Trump meme coin (TRUMP).
According to a CNBC report, out of the 2 million blockchain addresses that bought TRUMP’s token, only 58 wallets made profits of $10 million each. These whale addresses collectively pocketed gains of $1.1 billion.
These wallets amassed TRUMP early when the token officially debuted on January 17, 2025. While these big investors secured massive gains from TRUMP, CNBC reported that 764,000 retail investors lost money following investment in the meme coin. Notably, this set of traders paid more for the token than its current value.
Recall that TRUMP launched on the Solana blockchain less than three days before Donald Trump’s inauguration on January 20. It made its way to the market following a partnership between Fight Fight Fight LLC and CIC Digital, an affiliate of the Trump Organization.
To date, both companies control most of TRUMP’s 1 billion supply. Since its launch, the token has witnessed sharp price swings, leading to uneven returns for investors. Days after its launch, TRUMP reached an all-time high of $75.35. So far, it has plummeted 85.65% from its ATH to $10.91, where it currently trades.
Upcoming Black-Tie Dinner Reignites Interest in TRUMP
While it appeared investors had forgotten about the Trump meme coin, a recent announcement from the project sparked interest in the token in late April.
On April 23, the project promised the 220 largest TRUMP holders a seat at a dinner with the U.S. President. This event will hold on May 22, 2025, at Trump’s National Golf Club in Washington, D.C.
In addition, this event will also hold a reception for the top 25 holders of TRUMP. The president will also treat these investors to a private White House tour.
Expectedly, the announcement pushed the token’s valuation to $2.7 billion, with about 54,000 wallets purchasing Official Trump since the rally. Additionally, at least 100,000 wallets have acquired TRUMP since April 15. However, the Trump-themed meme coin’s valuation has slumped since its recent surge to $2.18 billion.
US Lawmakers Investigating TRUMP Meme Coin for Conflict of Interest
Meanwhile, CNBC claims that U.S. lawmakers are investigating Trump’s affiliated crypto projects, including Official Trump and World Liberty Financial, to ascertain whether they constitute a direct conflict of interest with the president.
In the meantime, the Senate’s Permanent Subcommittee on Investigations is probing the token’s ownership and revenue structures for more insights.
Factors like the upcoming dinner featuring the largest token holders and promotional posts from Trump are fueling the probe.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
