President Trump’s push into crypto is proving to be very lucrative.
A so-called “unlock” of Trump meme coins is expected to add nearly $100 million to the president’s fortune, according to a report.
Starting Thursday, entities tied to the president will be able to sell 90 million of the $Trump tokens – worth nearly $930 million at Wednesday’s price of $10.30, according to crypto research site Messari.
Trump’s share of the coins will add $93 million to his $6.4 billion fortune, according to Bloomberg. His net worth has not previously included the locked coins’ value.
He also has made about $150 million from trading of the meme coin through mid-June, according to an analysis by crypto-risk modeling firm Gauntlet.
The unlock will increase the coin’s circulating supply by 45%, after its initial launch in January made 200 million coins available, Bloomberg reported.
The total amount outstanding will reach 1 billion in less than three years. Of those, 800 million were originally locked and held by Trump-linked entities.
A larger supply, however, could sink the meme coin’s price.
Like all meme coins, the $TRUMP token has no intrinsic value. It’s based on an image of Trump and tied largely to his popularity – making it vulnerable to sharp swings.
Its price soared more than 10% last week after Justin Sun, founder of the Tron blockchain and cryptocurrency, vowed to buy $100 million worth of the coin in a post on X.
Sun is already the meme coin’s top holder.
His Tron network added the meme coin to its supported tokens this month, following a rush of major crypto exchanges that scrambled to take Trump’s coin to market earlier this year.
Sun attended a VIP reception with Trump – where he was gifted a Trump-branded Tourbillon watch – in May when the president hosted an event for the coin’s 200 largest holders.
The crypto entrepreneur – who was sued by the Securities and Exchange Commission in 2023 – also serves as an adviser to World Liberty Financial, the Trump family’s crypto firm.
The suit charging Sun with fraud and market manipulation was dropped in February.
The 800 million locked Trump meme coins are owned by CIC Digital LLC and Fight Fight Fight LLC. The $TRUMP token’s website does not state how the coins are split between the LLCs.
Following this week’s unlock, 510 million tokens will be made available over the next two years. An additional 200 million coins will start to become available in January.
Cryptocurrency has emerged as a huge moneymaker for the Trump family, adding $620 million to their wealth since Trump won the election in November.
A White House spokesperson said that Trump’s assets are being held in a trust managed by his children while he serves his second term, and maintains that none of his business ventures present a conflict of interest.
Trump’s sons, Donald Jr. and Eric Trump, who run the family’s Trump Organization, are shareholders in crypto miner American Bitcoin, which will be acquired by Gryphon Digital Mining.
The new company could be worth more than $4.5 billion, according to Bloomberg.
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