Trump memecoin issuer plans new digital asset treasury firm

The company behind Donald Trump’s official memecoin is reportedly seeking to raise at least $200 million for a new digital asset treasury firm.

This ambitious move is aimed at stabilizing the struggling token’s price and expanding its reach in the crypto ecosystem.

According to an Oct. 8 Bloomberg report, Fight Fight Fight LLC, the issuer of the Trump (TRUMP) memecoin, is spearheading the fundraising. The firm, led by Trump ally and longtime promoter Bill Zanker, is targeting as much as $1 billion, though the final figure is still under discussion. People familiar with the matter noted that the initiative remains in early stages and may not materialize.

The proposed Digital Asset Treasury would focus on accumulating Trump-linked tokens, including the TRUMP coin, which has lost significant value since its January peak. At the time of writing, TRUMP trades at around $8, down from an all-time high of $44.

Reviving the fading Trump memecoin

The DAT project is Zanker’s latest attempt to breathe life into the Trump token, which launched on Solana (SOL) shortly before Trump’s second presidential inauguration. The token’s debut featured a cartoon depiction of Trump raising his fist after the assassination attempt, a symbol that fueled its early hype but couldn’t sustain price momentum.

In May, Trump hosted a dinner with top holders of his memecoin as part of a social media campaign by Fight Fight Fight to drive community engagement. Yet, the company’s earlier plan to launch a Trump-branded wallet for trading and storage was shelved following a dispute with World Liberty Financial, another Trump-linked crypto venture.

Notably, World Liberty’s WLFI token is already being accumulated by ALT5 Sigma, a separate digital asset treasury firm. This has drawn comparisons between the two projects, with some analysts suggesting the DAT could serve a similar function, potentially concentrating ownership of Trump-related tokens within a small circle of affiliated companies.

Political crypto ambitions grow

The Trump family’s growing involvement in digital assets has expanded rapidly over the past year, including ventures into Bitcoin mining, stablecoins, and crypto exchange-traded funds. On X, crypto commentators were quick to connect the new DAT plans to Trump’s promise of ushering in a “golden age for crypto,” while critics raised concerns over possible self-enrichment and conflicts of interest.

Meanwhile, memecoin activity tied to the Trump brand continues to stir political and cultural debates, from California Governor Gavin Newsom’s satirical “Corruption Token” to ongoing promotions for Trumpbucks, a USD1 stablecoin tied to World Liberty Financial.

Despite the controversies, Zanker’s latest move shows that the Trump crypto ecosystem is far from slowing down, even if its tokens are no longer rallying as they once did.