Trump Token Issuer Seeks $200 Million to Build Digital Asset Treasury

Managed by Trump Ally Bill Zanker, the company aims to form a digital asset treasury to stabilize the official Trump token

Fight Fight Fight LLC, the company that created Trump’s official Meme Coin, is seeking to raise at least $200 million to set up a Digital Asset Treasury (DAT) that will purchase the token.

Bloomberg reported on October 8 that this move is a direct intervention to stabilize the asset closely linked to the US president. While the outcome of the fundraising is not yet certain, the ambitions are significant, with a target reach stretching to $1 billion.

An attempt to strengthen a struggling asset

The planned treasury is the latest in a series of efforts to support the value of the Trump token. According to the Bloomberg report, Fight Fight Fight, managed by Donald Trump’s longtime associate Bill Zanker, is leading The low-key fundraising initiative.

The meme coin’s performance has been difficult; It is currently trading around $7.56, down about 89% from its all-time high of $73.43 recorded earlier in the year, just after launch. Although it has seen a modest increase of 3.1% over the past week, the asset remains down 11% for the month.

The project has previously tried to generate interest, including a high-profile dinner with top holders in May, which briefly increased its price. However, a separate plan for a Trump-branded digital wallet was reportedly abandoned after a disagreement with another Trump-linked crypto business, World Liberty Financial.

A big factor influencing the Meme Coin market is how the 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 has a circulating market value of approximately $1.5 billion.

Most of the supply is still locked up and held by people or groups linked to the president. However, new tokens have been released onto the market almost every week in recent months, with the constant unlocks keeping the pressure to sell high. Digital Asset’s new Treasury would ostensibly use its funds to buy Trump on the open market, potentially encountering downward pressure.

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The growing crypto portfolio of the first family

This fundraising effort comes against the backdrop of the Trumps’ deep involvement in digital assets. As Cryptopotato reported in early September, cryptocurrency has become the largest part of their paper assets. This is largely due to the success of World Liberty Financial’s WLFI token, in which the family has a stake that was once valued at more than $6 billion, and their controlling share of the Trump Meme Coin.

Despite the market activity, President Trump has publicly distanced himself from direct profits from the cryptocurrency. In a May 5 interview with NBC News, he stated, “I didn’t even look,” when asked about the asset. However, on-chain analysts reported large transfers of the token to be exchanged by related entities, indicating possible sales.