While President Trump has officially endorsed the coin, Fight Fight Fight is running the project and “is not distributed or sold by Donald J. Trump, The Trump Organization or any of their respective affiliates or principals,” according to the website.
In effect, the sale of the tokens permits Trump supporters to anonymously donate to the president, according to investors.
The memecoin exploits retail investors, ethics experts charge. “GET YOUR $TRUMP NOW,” President Trump posted on X in January.
Two days later, his wife, Melania Trump launched her own token, $MELANIA.