Fight Fight Fight LLC, the issuer of US President Donald Trump's own memecoin, the TRUMP token, is aiming to raise at least $200 million to establish a digital asset treasury, Bloomberg reported.
This treasury will focus on buying the struggling TRUMP to ensure a stable price.
The report stated that the company could raise up to $1 billion to raise funds for Trump, but the deal is still in the development phase.
Fight Fight Fight LLC is run by Bill Zanker, a longtime associate of Donald Trump. The study has not yet been officially released, and its outcome remains uncertain.
The Trump memecoin, launched just days before Trump's second inauguration, reached a peak of $73.43 in January, according to Coinmarketcap data. However, it fell to around $7.60 in the post-Trump era, losing 3.4% in the past 24 hours.
This move is expected to help Trump consolidate his assets in the crypto ecosystem and affiliates, potentially impacting the price of the token positively.
A treasury has also been established for another Trump-linked altcoin, World Liberty Financial (WLFI). Alt5 Sigma, a fintech firm listed on Nasdaq, has already established a token treasury for WLFI. While World Liberty Financial is a crypto venture backed by Donald Trump's family, Alt5 Sigma announced in early September that it held approximately $1.3 billion worth of WLFI.
*This is not investment advice.
