The meme coin of U.S. President Donald Trump, Official Trump ($TRUMP), has outperformed all other cryptocurrencies in the top 100 in terms of growth, surging by 23% in 24 hours. Over the week, it is the second highest gainer (+61%), and over the month — the third (+93%). For comparison, Bitcoin's price has risen by 23% over the last 30 days.
At the same time, the most active growth of $TRUMP began on August 19. On that day, the entire crypto market moved upwards against the backdrop of an increase in U.S. government financial obligations to record historical levels and Trump's meeting with crypto companies at the White House.
During the meeting, the U.S. President spoke positively about cryptocurrencies and stated that Congress needs to approve the crypto market bill CLARITY Act, the decision on which has been postponed until autumn due to a number of contentious issues. One such issue is Trump's conflict of interest in the cryptocurrency sector, which Democratic senators have been highlighting for over a year.
Midterm elections will take place in the U.S. this autumn. Experts previously suggested that, perhaps ahead of them, representatives of the Trump administration are interested in supporting the crypto market. At the same time, media reports have increased about substantial income earned by the American president's family from crypto projects against the backdrop of losses for their investors, as well as about Trump's business ties with authorities in the UAE.
In July, The New York Times (NYT) reported, citing data from analytics company Nansen, that nearly one million people who bought the $TRUMP meme coin lost their money. Their combined losses amounted to $3.81 billion.
In August, the non-profit organization Public Citizen expanded its investigation to several more of Trump's crypto projects. According to the report, investors in the $WLFI token from World Liberty Financial lost at least $1 billion, while Trump earned $557 million. The U.S. president received an income of $635 million from trading fees of the $TRUMP token, the article states.
Also this week, on Wednesday, The Wall Street Journal reported, citing sources, that the UAE National Security Advisor Sheikh Tahnoun bin Zayed Al Nahyan, who is also the brother of the UAE President, and his co-investors own 49% of the shares of a holding company created by World Liberty Financial to obtain a banking license in the U.S.
A few days prior, it became known that this company received preliminary approval to establish a national trust bank. Trusts cannot issue loans, but such a status will allow $WLFI to issue and service its USD1 token on the U.S. market under the federal supervision of the U.S. Office of the Comptroller of the Currency (OCC).
White House Principal Deputy Press Secretary Anna Kelly told The Block that there are "no conflicts of interest."
"President Trump operates exclusively in the interest of the American public — that's why he was re-elected to this office by a landslide, despite years of lies and false accusations against him and his business by fake news media," Kelly said.
As of 11:30 Moscow time on August 28, the $TRUMP token is trading around $2.82. Despite the rapid growth this month, its current price is 96% below the all-time high of $75, recorded at the project's launch in January 2025.
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