<\/p>\n
Donald Trump gave varying responses about whether he has personally benefited from the cryptocurrency token launched under his name earlier this year, according to Cointelegraph<\/a><\/em>.<\/p>\n In an interview aired May 4 on NBC News\u2019 Meet the Press<\/em> with Kristen Welker, Trump was asked about criticism suggesting he\u2019s using the presidency for personal gain through a memecoin linked to his name. He replied, \u201cI\u2019m not profiting from anything,\u201d and added that he hadn\u2019t looked into it.<\/p>\n When pressed further, Trump drew a comparison to stock ownership, saying, \u201cIf I own stock in something and I do a good job, and the stock market goes up, I guess I\u2019m profiting.\u201d<\/p>\n The token, named Official Trump (TRUMP), launched on January 17 and briefly surged to $73.43 two days later. That peak came just before Trump was sworn into office on January 20. Since then, the token\u2019s value has dropped significantly, recently trading at $11.35, according to data from CoinGecko.<\/p>\n Trump appeared unaware of the token\u2019s recent price activity during the interview and repeatedly asked what it was currently worth.<\/p>\n Records show that two entities connected to Trump\u2014CIC Digital LLC and Fight Fight Fight LLC\u2014control 80% of the token\u2019s total supply of one billion. Most of these tokens are locked and scheduled for gradual release over the next three years. On April 18, 40 million tokens, valued at about $454 million at the time, were released to CIC Digital.<\/p>\n An analysis by the Financial Times<\/em> in March estimated the project has generated at least $350 million. This includes $314 million from token sales and another $36 million in related fees.<\/p>\n Trump\u2019s involvement in cryptocurrency has raised concerns about potential conflicts of interest, especially as he continues to call for reduced regulation on the sector. Some lawmakers from his own party have criticised aspects of the token project, including a dinner invitation for top tokenholders scheduled for May 22. Senators Cynthia Lummis and Lisa Murkowski were among those who expressed concern.<\/p>\n During the interview, Trump mentioned he planned to donate his presidential salary back to the government. When asked if he would do the same with any profits from crypto, he replied, \u201cI never thought of that,\u201d and questioned whether property value increases tied to his presidency should also be donated.<\/p>\n Trump also used the interview to restate his stance on cryptocurrency. \u201cI want crypto. I think crypto\u2019s important because if we don\u2019t do it, China\u2019s going to. And it\u2019s new, it\u2019s very popular, it\u2019s very hot,\u201d he said. He criticised the Biden administration for what he described as inconsistent positions on the issue.<\/p>\n Speaking to reporters later that same day on the South Lawn, Trump reiterated that cryptocurrency was a priority and said he wanted to prevent China from gaining dominance in the space. He made similar comments about artificial intelligence and other industries.<\/p>\n (Image by Pixabay<\/a>)<\/em><\/p>\n See also: Cryptocurrency regulation called \u2018floor is lava\u2019 as Trump faces impeachment calls over memecoin<\/a><\/strong><\/p>\n Want to learn more about blockchain from industry leaders? Check out Blockchain Expo<\/a><\/strong> taking place in Amsterdam, California and London.<\/p>\n Explore other upcoming enterprise technology events and webinars<\/strong> powered by TechForge here<\/a>.<\/p>\n