The memecoin project, associated with the tradable Official TRUMP ($TRUMP) token, has accrued $314m (c. £243m) from token sales and $36m (c. £28m) in fees on the Solana blockchain, according to a Financial Times (FT) analysis.

The Trump Organisation-affiliated CIC Digital and Delaware-based Fight Fight Fight LLC reportedly control 80% of the token supply. The FT traced token flow from creation to sales on Solana-based exchanges to calculate these earnings.

Launched shortly before a key event, the TRUMP memecoin involved the minting of one billion tokens, with 200 million initially released and the remainder scheduled for distribution over three years. An initial liquidity pool of 158 million tokens allowed for open market trading against USDC.

The analysis suggests potential price manipulation, with $TRUMP-linked accounts selling 100 million tokens below $1.05 and subsequently reinvesting $291m (c. £225m) in USDC to support the market. Additionally, $1m (c. £770,000) was spent on buying back tokens to stabilise the price following the launch of a MELANIA memecoin.

Despite a significant price drop of 82% from its peak, the remaining 831 million $TRUMP tokens held by affiliated accounts are estimated to have a notional value of $10.8 billion (c. £8.4bn).