TRUMP: Decoding Trump's Crypto "Game of Power"

On January 18, 2025, then-President-elect Donald Trump announced the $TRUMP token via posts on X (formerly Twitter) and Truth Social, featuring a distinctive gold-framed "TRUMP" poster against a black backdrop. This announcement triggered an immediate surge in the cryptocurrency market. Within 24 hours, $TRUMP's market cap surpassed $80 billion, outperforming established rivals like Dogecoin and Shiba Inu to claim the top position on the Solana network.

The $TRUMP phenomenon represents a calculated fusion of personal political influence, familial financial operations, and volatile crypto market sentiment. This article analyzes the underlying mechanics and participation approaches within the $TRUMP ecosystem, examining its technical, narrative, and community aspects.

$TRUMP Token: Redefining Political IP Through Crypto

The $TRUMP token operates on Solana, a blockchain recognized for its high throughput and low transaction fees—attributes that reflect Trump’s “America First” policy ethos. Of the total 1 billion $TRUMP tokens, 80% are held by Trump-affiliated entities (such as CIC Digital LLC and Fight Fight Fight LLC). These tokens are subject to a lock-up period split into six tranches, unlocking over 3 to 12 months, followed by a linear release over the next 24 months. The remaining 20% was allocated to the public sale. On April 18, 40 million $TRUMP tokens were unlocked—worth approximately $300 million—accounting for 20% of the circulating supply. A daily linear unlock of about 493,000 tokens (~$3.7 million) is ongoing. The next major unlock is set for July 18, 2025,

It's noteworthy that the $TRUMP token is designed as a political collectible, thereby cleverly circumventing the regulatory risks of traditional securities laws. As one analyst noted, “(Trump) defining the token as a 'political collectible' places it under the umbrella of free speech protection, a deliberate strategy by Trump's legal team.”

$TRUMP's price movements were notably driven by political events. For example, its launch on January 18, 2025, as the "U.S. President Token" sparked significant market enthusiasm. The initial limited supply of 200 million tokens created scarcity, driving the price from $0.18 to $95 on HTX. Likewise, the presidential inauguration on January 20 also rekindled market interest in the token.

A tweet by @trenchdiver101 on April 19 indicated Trump's plan to host a dinner for large $TRUMP holders. A related webpage, trumpdinner.gettrumpmemes.com, is under development by the TRUMP team. Currently, it is password-protected, and there is no other publicly available information. On the evening of April 23, the official website of U.S. President Trump's meme coin, TRUMP, announced plans to invite the top 220 token holders to a dinner at a golf club near Washington on May 22. Following the announcement, the TRUMP token surged rapidly, breaking through 15 USDT.

This dinner, potentially serving as an endorsement, could trigger a bidding surge among large holders, akin to the "Buffett lunch" effect. $TRUMP’s "narrative-sell-new narrative" cycle has consistently generated market interest.

The Trump Model: Family Politics in the Decentralized Crypto Space

Centered around the $TRUMP token, the Trump family is expanding its presence in the crypto space, bringing “family politics” into the decentralized era. Beyond Donald Trump’s token issuance, other family members are also actively participating in the crypto ecosystem.

MELANIA Token: On January 20, 2025, Melania Trump's X account unexpectedly posted a message closely resembling the TRUMP token announcement, revealing that the MELANIA token website was now live. Even the domain structure mirrored that of the $TRUMP token launch site. However, the tokenomics of MELANIA differ significantly. While the TRUMP team’s allocation is subject to a three-year lock-up, the MELANIA team’s share is locked for only 30 days. After that, 10% is unlocked immediately, with the remainder released gradually over the following 12 months, reaching full unlock by the 13th month. This stark contrast triggered a shift in market sentiment—from initial excitement to growing concern.

World Liberty Financial: This DeFi platform, despite its claim as a stablecoin lending service, appears designed to establish the financial infrastructure for a Trump-backed crypto ecosystem. According to its official website, WLFI is the only DeFi platform inspired by Trump, utilizing its $WLFI token to shape the future of decentralized finance. Meanwhile, a disclaimer in the site’s footer clearly outlines the Trump family's connection to the platform.

The ownership structure shows that DT Marks DEFI LLC, an entity linked to Trump and certain family members, holds approximately 60% of WLF Holdco LLC. This holding company is the sole member of World Liberty Financial, Inc., a Delaware non-stock corporation responsible for developing the WLF Protocol and operating its governance platform. Under its agreement with World Liberty Financial, Inc., WLF Holdco LLC retains full rights to the net protocol revenue generated by the WLF Protocol (excluding net proceeds from $WLFI token sales). Neither Trump nor any director, officer, or employee of the Trump Organization or DT Marks LLC holds a formal position at WLF Holdco LLC or World Liberty Financial, Inc. However, Eric Trump, Donald Trump’s second son, serves as a manager on the board of WLF Holdco LLC. Additionally, DT Marks DEFI LLC and certain Trump family members collectively hold 22.5 billion $WLFI tokens. DT Marks DEFI LLC is also entitled to a services fee from World Liberty Financial, Inc., amounting to 75% of the net proceeds from $WLFI token sales—after accounting for reserves, fees, and other deductions.

New Evolution of Meme Coins

The $TRUMP phenomenon highlights how Web3 technology can disrupt traditional political mobilization. When the tokens held by supporters serve as investment assets, votes, and identity badges all at once, a new kind of political-financial complex has emerged. One analyst put it simply: "Trump has shown that any real-world power structure can be tokenized and rebuilt." Even if this experiment is eventually stopped by regulations or a market crash, it has already opened a Pandora's box that could permanently change how politics and finance interact.