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Fortune

Sasha Rogelberg

Trump's 80% stake in his memecoin is a 'huge red flag' for investors because a rug pull could bolster the president's riches but torpedo his reputation

Donald Trump Trump Organization United States Crypto Fortune Kim Kardashian

Donald Trump speaks in front of a "bitcoin 2024" background (Credit: Brett Carlsen/Bloomberg—Getty Images)

President Donald Trump launched his memecoin $TRUMP days before his inauguration. If affiliates of the Trump Organization, which owns 80% of the coin, suddenly sell their shares, it would pad the president’s pockets at the expense of investors, finance professor Leonard Kostovetsky told Fortune.

President Donald Trump’s launch of his memecoin $TRUMP last week made him a crypto billionaire nearly overnight. But should CIC Digital, an affiliate of the Trump Organization, and CIC co-owned Fight Fight Fight LLC decide to sell their 80% stake in the token, it would skyrocket Trump’s wealth—and pull the rug out from investors, one finance expert said.

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