Donald Trump gives conflicting answers over memecoin profits
Donald Trump provided conflicting responses regarding his profits from the memecoin he launched, Official Trump (TRUMP), during an NBC News interview. He claimed he was “not profiting from anything” but acknowledged that if he owned stock and performed well, he could profit. The memecoin peaked at $73.43 shortly after its launch on January 17 but has since declined to $11.35, down nearly 85%. Trump appeared unaware of the token's recent surge, which followed a promotional dinner offer for top holders. Two companies linked to Trump own 80% of the token's supply, with significant earnings reported from sales and fees. Critics, including some Republicans, have raised concerns about potential conflicts of interest related to his crypto dealings. Trump reiterated his support for cryptocurrency, emphasizing its importance in competition with China and criticizing President Biden's stance on the issue.
