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A Senate subcommittee has launched an investigation into the $TRUMP cryptocurrency, citing possible legal violations and ethical conflicts involving former President Donald Trump.Fight Fight Fight LLC and Trump-affiliated firms control 80% of the coin’s supply and earned an estimated $350 million in trading fees.The promotion of exclusive perks like a “Dinner with Trump” for top $TRUMP holders triggered concerns over pay-to-play schemes and potential foreign influence.
The U.S. Senate’s Permanent Subcommittee on Investigations (PSI) is officially examining the launch, ownership, and promotional activities surrounding the $TRUMP cryptocurrency. This inquiry follows explosive growth in the coin’s value, controversial marketing tactics, and rising concerns about potential violations of ethics laws and the Constitution.
Read More: Official Trump Price Prediction: $TRUMP Soars Over 24% – Meme Coin with 10x Potential
A Closer Look at the $TRUMP Coin’s Launch and Ownership
Explosive Launch and Sudden Collapse
The $TRUMP cryptocurrency, launched on January 17, 2025, by Fight Fight Fight LLC, quickly gained attention after direct promotion from Donald Trump. Marketed as a meme coin meant to symbolize political support rather than serve as a financial investment, $TRUMP soared in value within 48 hours—rising over 1,000% to a peak of $74.27. However, it just as quickly plummeted to a low of $7.42 by April.
This boom-and-bust trajectory closely resembles known crypto manipulation patterns such as “pump and dump” schemes, where early investors cash out before a mass sell-off. Reports have suggested a core group of insiders—including entities linked to Trump—may have had privileged access to discounted tokens before public trading began.
Trump-Affiliated Firms Control 80% of Coin Supply
Public financial disclosures and blockchain data show that Fight Fight Fight LLC and CIC Digital LLC—both Trump-linked companies—control roughly 80% of the total one billion $TRUMP tokens. At current market valuations, that represents over $10.4 billion in potential holdings.
These companies also collect transaction fees from all trading activity involving $TRUMP. According to analytics firms, those fees have generated approximately $350 million to date, including nearly $1 million in the days following the launch of the controversial “Dinner with Trump” promotion.
Read More: Trump Media Group Plans Utility Token for Truth Social in Expanding Crypto Strategy
Marketing Gimmicks Raise Ethical Alarms
“Dinner with Trump” and White House Tour Backlash
Facing plummeting token value and negative investor sentiment, Fight Fight Fight LLC announced a new promotion on April 23: the top 220 $TRUMP holders would be invited to a private dinner with Trump at his D.C. golf club. The top 25 holders were promised a special VIP White House tour—a detail later quietly removed from the website after public scrutiny.
The promotion appeared to revive interest in the token. Within hours of the announcement, $TRUMP’s price surged by more than 50% and trading volumes spiked dramatically.
However, the Senate inquiry views this tactic as a possible pay-to-play scheme. The use of proximity to a former president as a reward for speculative crypto purchases raises fundamental questions about transparency, fairness, and legality in U.S. political fundraising and financial practices.
National Security and Legal Implications
Potential Foreign Influence via Blockchain
One of the most alarming concerns outlined in the Senate letter is the ease with which foreign actors—including governments—can buy large amounts of $TRUMP and directly enrich Trump and his companies through anonymous blockchain transactions.
This setup, investigators argue, creates a loophole for foreign payoffs hidden behind crypto pseudonym, which could breach the Constitution’s Foreign Emoluments Clause. According to the coin’s public leaderboard, one of the top $TRUMP holders is Justin Sun, a Chinese-born crypto entrepreneur currently facing regulatory scrutiny in the U.S.
If substantiated, such ownership could constitute illegal foreign influence and raise national security red flags, especially given Trump’s active role in U.S. politics.
Undisclosed Profits and Insider Activity
While the coin’s website disclaims investment intent, evidence shows Trump and his affiliated companies are financially benefitting from the token’s performance. Blockchain records and financial disclosures reveal consistent token sales, likely timed around key promotional events such as social media endorsements and the dinner competition.
This raises the question of whether insiders—including the Trump family—engaged in undisclosed token sales at inflated prices, exploiting retail investors in a manipulated market cycle.
Fight Fight Fight LLC Under Pressure
PSI asked Fight Fight Fight LLC for thorough documents in an official letter dated May 6, 2025, including the company’s ownership structure, foreign investors, and internal conversations about the $TRUMP coin. The question also aims to find out whether any actions were done to reduce possible conflicts of interest or unethical conduct.
The consequences might be substantial if confirmed federal infractions—especially for international fundraising, market manipulation, or official symbol misuse. Legal action, regulatory enforcement, or even criminal charges could follow depending on the findings.
Broader Implications for Crypto and Politics
The $TRUMP coin saga is the latest and most high-profile case to highlight how cryptocurrencies can be exploited for political gain, and how blockchain’s anonymity can shield financial misconduct. The incident is likely to spark calls for tighter regulations on politically affiliated crypto assets, greater financial disclosure standards, and broader scrutiny of token launches tied to public figures.
As the investigation continues, the cryptocurrency industry—and political establishment—will be watching closely. The outcome may reshape the boundaries between decentralized finance, ethics in public office, and U.S. national security.
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