The startup behind US President Donald Trump’s official Memekoin is trying to raise a digital-asset treasury at least $ 200 million, aimed at buying tokens back, which has fallen about 90% from its peak.
Fight Fight Fight LLC, Trump’s colleague and long -time promoter Bill Zankar, leading this effort, Bloomberg Reported On Wednesday, citing people familiar with the case. The target of funding can reach 1 billion dollars, although the deal is still in the initial stage and may not be fulfilled.
The move reflects the latest attempt to revive the price of tokens, which, according to the coinmarketcap data, fell from its all -time high level to about $ 8 in January this year. Official trump is also more than 10% below the last month.
As MesariAbout 35% of the supply of Trump tokens is currently unlocked and traded, making its circulating market price $ 1.5 billion. The remaining 65%, approximately 800 million tokens, are with Trump-related institutions and are closed under the inherent program.
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Protests started at Trump’s Memekoin Dinner
In May, Trump participated in a private dinner with the top holders of his memecoin, where about 220 guests, including Tron’s founder Justin Sun, dined on Mignon and Halibut, under the “Fight Fight Fight” banner. Outside, over 100 protesters condemned Trump as a political profiteering of the incident, accusing Trump of “crypto corruption”.
Following the incident, 35 Sadan members asked Edward Sulivan, the acting head of the public integrity section, to initiate an investigation into a memecoin dinner to determine whether it has violated the federal bribery law or foreign parasitism section of the US Constitution.
As reported by Cointegraph, Trump faced an investigation even after standing behind a lecture with the official President’s seal, a step that could be a violation of the federal law.
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ALT5 Sigma World Liberty will manufacture Financial Treasury
While the token treasure of fight fight fight remains ideological, other trump-bound enterprises have already moved forward with similar initiatives.
In August, Alt5 Sigma Corporation announced a plan to raise $ 1.5 billion through the sale of 200 million common shares at $ 7.50 each. This amount will be used to manufacture its World Liberty Financial (WLFI) corporate treasury.
Last month, 99% WLFI holders also approved the token-burning strategy to reduce the supply and promote the value of the token. Under the scheme, the fee generated from the WLFI-managed liquidity pool will be used for tokens re-re-rescue, which will later be permanently removed from the circulation through the burn.
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