Trump token issuer seeks $200 million to build digital asset treasury

The company, run by Trump ally Bill Zanker, aims to create a digital asset treasury that would stabilize Trump’s official token.

Fight Fight Fight LLC, the company that created the official Trump (TRUMP) meme coin, is seeking to raise at least $200 million to create a Digital Asset Treasury (DAT) to purchase the token.

Bloomberg reported on October 8 that the move was a direct intervention to stabilize assets with close ties to the US president. The results of the funding are not yet clear, but the ambition is considerable, with the target range expanded to $1 billion.

Bid to shore up struggling assets

The planned Treasury is the latest in a series of efforts to support the value of the TRUMP token. Fight Fight Fight, run by Donald Trump’s longtime ally Bill Zanker, is leading the quiet fundraising effort, Bloomberg reports.

Memecoin’s performance has been difficult. It is currently trading around $7.56, down about 89% from the all-time high of $73.43 it hit shortly after its release earlier this year. It has seen a modest 3.1% rise over the past week, but remains down 11% for the month.

The project has previously tried to drum up interest, including holding a high-profile dinner with top holders in May, which led to a temporary spike in prices. However, another plan for a Trump-branded digital wallet was reportedly abandoned due to disagreements with another Trump-linked cryptocurrency company, World Liberty Financial.

A major factor influencing the meme coin market is how its supply is distributed. According to on-chain analytics platform Messari, only 35% of the total 1 billion tokens are currently in circulation. This means that TRUMP’s secondary market value is approximately $1.5 billion.

Most of the sources remain in secure custody, held by people or entities associated with the president. However, over the past few months, new tokens have been released to the market almost every week and are constantly being unlocked, which continues to put pressure on them to sell at higher prices. A new digital asset Treasury could counter this downward pressure, ostensibly using its funds to buy TRUMP on the open market.

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First Family’s expanding cryptocurrency portfolio

The fundraising effort comes as the Trumps have become increasingly involved in digital assets. As CryptoPotato reported in early September, cryptocurrencies have become the largest portion of paper’s net worth. This is largely due to the success of World Liberty Financial’s WLFI token, where the family once held stakes worth more than $6 billion and holds a controlling share of the Trump Meme Coin.

Despite the market activity, President Trump has publicly distanced himself from direct profits from cryptocurrencies. In an interview with NBC News on May 5, when asked about his assets, he said, “I haven’t even looked at them.” However, on-chain analysts subsequently reported large-scale transfers of tokens to exchanges by related parties, hinting at a possible sale.