Financial Times: TRUMP token team made over $350M in profits since launch

The Financial Times reported that the U.S. President Donald Trump's recent launch of the TRUMP memecoin netted at least $350 million within the first three weeks of its release in January. Wallets linked to the team reportedly sold large amounts of TRUMP tokens, generating $314 million from sales and $36 million in fees on the Solana network, with additional profits likely from centralized exchanges. While the token is officially endorsed by Donald Trump, its operations are managed by Fighter Fight LLC, not directly by Trump or his affiliates. Critics argue that the venture blurs the lines between political and business interests, potentially allowing for anonymous donations and exploitation of retail investors. Ethics experts have criticized the initiative, suggesting it sets a troubling precedent for a sitting president to profit from such ventures. Meanwhile, the White House is set to host a crypto summit on March 7.