The startup behind US President Donald Trump’s official memecoin seeks to raise at least $ 200 million to produce a digital-asset ark aimed at buying the token, which dropped nearly 90% from its peak.
Fight Fight LLC, led by Trump Ally and longtime promoter Bill Zanker, led the effort, Bloomberg reported On Wednesday, people were familiar with this. The target funding can reach as high as $ 1 billion, though the deal remains in its early stages and may not be materialize.
The move marked the latest attempt to survive the price of the token, which fell from all times of $ 75 in January to $ 8, according to CoinMarketCap data. The official Trump (Trump) dropped more than 10% in the last month.
According to Messer. The remaining 65%, around 800 million tokens, were held by Trump-related creatures and locked under vesting schedules.
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Trump’s memecoin dinner releases protests
In May, Trump attended a private dinner with the top holders of his memecoin, of which about 220 guests, along with Tron Sun Sun, who ate the Filet Mignon and Halibut under the “Fight Fight” banners. Outside, more than 100 protesters Criticized the event as political profiteeringHolding signs of accusing Trump of “crypto corruption.”
Following the event, 35 House members asked the Public Integrity Section who operated the leader, Edward Sullivan, who Launch an inquiry into Memecoin dinner To determine whether it violated the federal bribery law or the foreign clause emoluments of the US Constitution.
As Cointelegraph reported, Trump also faced with investigation After talking to the event while standing behind a lectern in contact with the official seal of the president, a step that could violate federal law.
Related: Melania Trump promotes Memecoin while the team faces $ 10m sales claims
Alt5 Sigma to produce World Liberty Financial Treasury
While the Fight Fight’s token Treasury remains the concept, other affiliates with Trump continued on similar initiatives.
In August, Alt5 Sigma Corporation Plans announced to raise $ 1.5 billion by selling 200 million typically sharing at $ 7.50 each. Funds will be used to form the World Liberty Financial (WLFI) corporate treasury.
Last month, 99% of WLFI holders were also approved A token burning approach to reduce supply and boost the value of the token. Under the plan, fees generated from WLFI managed pools of liquidity will be used for token re -purchasewhich is permanently removed from circulation by burns.
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