The company behind Donald Trump's memecoin TRUMP is attempting to raise at least $200 million to establish a digital-asset treasury company focused on accumulating the token, which has lost more than 80% of its value since its January peak. Fight Fight Fight LLC, led by Trump associate Bill Zanker, has set an ambitious funding target of up to $1 billion, though the deal remains in development and may not materialize.
What to Know:
- Fight Fight Fight LLC seeks $200 million to $1 billion to create a treasury company for Trump's struggling memecoin, which trades at $8 compared to its $44 January high.
- About 35% of the token supply is currently available for trading, giving it a circulating market value of roughly $1.5 billion, while 800 million tokens remain locked and controlled by Trump-affiliated entities.
- The fundraising effort represents the latest attempt to prop up the token's price after previous initiatives, including a May dinner with top holders and failed plans for a Trump-branded crypto wallet.
Treasury Company Aims to Support Declining Token
Fight Fight Fight LLC launched the Trump memecoin days before the president's second inauguration. Zanker, a longtime Trump friend and promoter, now leads the fundraising effort. People familiar with the plans declined to be identified because the company has not announced the initiative publicly.
The proposed digital-asset treasury would accumulate Trump tokens, though the deal's structure and timeline remain unclear. Fight Fight Fight did not respond to requests for comment.
The White House also did not provide a statement.
The Trump coin trades at approximately $8, according to data from CoinGecko. That represents a sharp decline from its $44 high in January. The token's price dropped soon after launch and has continued falling.
Previous Efforts and Market Context
Zanker previously organized a May dinner for top Trump memecoin holders. Fight Fight Fight maintained a public scoreboard tracking which major holders would attend. The company promoted the event across social media platforms.
Plans for a Trump-branded crypto wallet collapsed over the summer.
The wallet would have allowed users to trade and store the memecoin and other digital assets. A dispute with World Liberty Financial, another Trump-linked crypto business, derailed the project.
World Liberty Financial's WLFI token is already being accumulated by ALT5 Sigma, a separate digital-asset treasury company. More than 80 companies focused on stockpiling various coins launched this year, according to researcher PitchBook. Many saw their share prices fall after initial gains.
The token supply presents a complex picture. Most Trump memecoin tokens remain locked, meaning they cannot be traded, according to researcher Messari. Trump-affiliated entities control the majority of these locked tokens. About 35% of the supply is currently unlocked, creating a circulating market value of approximately $1.5 billion. The supply continues expanding as additional coins become available for trading.
Token Distribution and Crypto Ventures
The total supply will eventually reach 1 billion tokens. Trump-affiliated entities originally held 800 million tokens in locked status. Crypto entrepreneur Justin Sun holds a substantial amount of the token. Sun also serves as an adviser to World Liberty Financial.
Sun attended the May dinner for Trump memecoin holders. He received a watch at the event. The intersection of these various Trump-linked crypto projects raises questions about coordination and potential conflicts.
Digital-asset treasury companies operate by accumulating and holding specific cryptocurrencies, similar to how publicly traded companies like MicroStrategy have stockpiled Bitcoin. These entities aim to benefit from price appreciation while providing liquidity support. The model has gained traction this year, though results have varied.
The Trump family has expanded its cryptocurrency presence significantly over the past year. Their ventures include a Bitcoin mining operation, a stablecoin project, a Bitcoin treasury, and crypto exchange-traded funds. The memecoin represented one of the family's earliest and most visible crypto initiatives.
Final Thoughts
The fundraising effort for a Trump memecoin treasury company reflects ongoing attempts to stabilize the token's declining price and build institutional support. Whether Fight Fight Fight can secure the targeted funding remains uncertain, as the crypto market faces broader volatility and skepticism about celebrity-branded tokens.
