Trump’s crypto comeback can’t halt memecoin’s steep drop
Donald Trump’s renewed pledge to support the US crypto industry’s growth did not manage to boost interest in his own memecoin, as $TRUMP experienced a 14 per cent decline on Saturday, despite the president speaking to some of the token’s largest holders. In his private comments on Saturday in Florida, Trump reaffirmed his backing for a legislative measure intended to regulate the sector, as reported. The 45-minute keynote speech occurred shortly after the cancellation of US envoys’ trip to Pakistan for Iran peace talks. It also covered various topics, including artificial intelligence, the Iran war, and Trump-branded sneakers. “From the top of mind, he didn’t mention his memecoin a single time,” stated Morten Christensen. Trump has shown a keen interest in cryptocurrencies, with his family significantly broadening their business portfolio to encompass digital assets, such as a stablecoin and Bitcoin mining operations. Upon his return to the White House, he enacted a federal bill aimed at regulating stablecoins — a move that many in the industry interpreted as a signal that the Republican president is poised to facilitate the wider acceptance and utilization of leading tokens.
The Trump family has amassed hundreds of millions of dollars through its cryptocurrency initiatives, including the $TRUMP memecoin, which was launched just days prior to Trump assuming office, and World Liberty Financial Inc., which has introduced two coins. The president’s financial disclosures for 2025 revealed that over $57 million was generated solely from World Liberty token sales. In his speech, Trump emphasized his backing for the crypto market-structure legislation referred to as the Clarity Act, which has encountered delays in Congress. Coinbase Global Inc. and the banking sector are facing challenges in finding common ground on the bill, which is hindering the administration’s progress on its digital-assets policy agenda. The gathering at Mar-a-Lago showcased Tether’s Chief Executive Officer Paolo Ardoino, billionaire Tim Draper, and Cathie Wood from ARK Investment Management. The event was orchestrated by Fight Fight Fight LLC, the issuer of the Trump memecoin, led by Trump promoter Bill Zanker.
The leading 297 qualifying holders of the Trump memecoin were granted access to the conference and an exclusive gala luncheon. The 29 attendees had the opportunity to attend a reception with the president prior to the main event, although his time there was short-lived. Describing the attendees as “some of the most successful people in the world,” Trump on Saturday reaffirmed his backing for the crypto industry, although he refrained from declaring the US as the crypto capital of the world, unlike in previous addresses. “The crypto industry was created in America, its growth has been led by America, and its future will be made in America and other countries,” Trump stated. Notably absent was billionaire Justin Sun. Sun is currently embroiled in a legal battle with World Liberty Financial, having filed a lawsuit this month that alleges the Trumps’ venture is engaged in extortion. The event’s attendees were treated to an array of swag, including Trump-branded fragrances and watches. Attendees enjoyed a meal of steak and seafood prior to tuning in to Trump’s keynote at the event, billed as “the most exclusive crypto & business conference in the world!” Fight Fight Fight has launched its latest game, the “Trump Billionaires Club,” at the event.
In the upcoming game, initially anticipated for a December release, players will aim to expand their empire by purchasing and developing businesses, acquiring digital collectibles, and utilizing Trump memecoin. The game is now anticipated to launch in May. Fight Fight Fight has also unveiled the “$Trump Coin Club,” which is characterized as “invitation-only luxury suites at the biggest sporting events in the world, private dinners, and the most elite and extraordinary experiences.” The competition to attend a Trump event has once again led to a temporary surge in the memecoin’s price, reminiscent of last year’s dynamics. According to CoinGecko, it surged 56 percent following the contest’s announcement in March, only to decline once more thereafter. On Saturday, it experienced a decline of 14 per cent, bringing the price down to $2.56, as reported by the tracker. The memecoin has experienced a significant decline, dropping nearly 47 percent this year and over 90 percent from its peak just prior to the president’s inauguration last year, as reported.
