Donald Trump's meme coin, $TRUMP, carried a warning that it was not an investment. Despite this, supporters bought the coin, earning Trump's team approximately $100 million in fees. A new unlock allows affiliated businesses to sell 90 million tokens, which could significantly increase liquidity. Currently, Trump's share of $TRUMP is valued at $93 million. Despite prior decisions not to sell during unlocks to retain value, foreign investments and high-profile purchases suggest continued interest in the coin's potential.
Even the fine print on Donald Trump's meme coin warned buyers back in January that $TRUMP was "not intended to be ... an investment opportunity." But that didn't stop his supporters from rushing in to buy loads of this coin with no inherent value, earning the president and his team close to $100 million in trading fees in just a couple of weeks.
Beginning on Thursday, businesses affiliated with the president will be allowed to sell off 90 million of $TRUMP tokens. In crypto, this is called an "unlock" - a scheduled increase to the liquidity of a meme coin to allow early investors to cash out if they so choose.
With $TRUMP trading at just over $10, the president's share of those coins is worth about $93 million - a sum that was not calculated into his estimated $5.1 billion net worth until now. Not bad for something invented out of thin air with no utility whatsoever.
During the last token unlock in April, the Trump team held steady, retaining the coin's value instead of selling, which would have tanked the price.
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