Fight Fight Fight LLC, the company behind the Official Trump ($TRUMP) meme coin, is seeking to raise between $200 million and $1 billion to create a digital asset treasury (DAT) dedicated to buying and holding its own token.
The plan, first reported by , would be one of the largest meme-coin-linked fundraising efforts of 2025. The entity, led by Trump associate Bill Zanker, aims to stabilize the token’s price through on-chain accumulation and treasury management.
People familiar with the discussions told Bloomberg that talks remain preliminary and could change, but the initiative signals a push to formalize a financial backstop for the politically charged token.
Analysts say the move places the project squarely on the radar of U.S. financial regulators. The SEC and CFTC may need to decide whether a treasury fund that accumulates a self-issued token functions as an investment fund, a token-backing scheme, or a form of political financing.
TRUMP, the token’s branding adds complexity. The token, launched in early 2025, rallied above $73 before sliding to trade around , down 10.9 % in 24 hours, according to CoinMarketCap. Messari data shows only 35 % of the supply is unlocked, with a market cap near $1.5 billion.
Fight Fight Fight’s earlier projects have faced delays and infighting. Its announced “Official Trump Wallet,” unveiled in June, was shelved after a rift with World Liberty Financial, another Trump-linked venture.
That conflict mirrors the fragmentation within the broader Trump crypto network, where entities pursue overlapping initiatives without a central governance framework. Still, the ecosystem has attracted bursts of speculative interest. A May fundraising dinner with Donald Trump sent $TRUMP up more than 70 %, highlighting how political events often drive token volatility.
Roughly 800 million locked tokens, largely held by Trump-affiliated entities such as Justin Sun, will unlock gradually, potentially testing market liquidity later this year.
Experts warn that a politically linked digital asset treasury could face the same questions that other crypto treasuries faced around market manipulation and disclosure rules. The U.S. Treasury Department and election finance agencies may also evaluate whether such vehicles require additional filings if they support political branding.
In contrast, some crypto analysts view the plan as a bold attempt to formalize a “reserve mechanism” similar to corporate treasuries at firms like Strategy (MSTR) or World Liberty Financial, which recently announced a .
Likewise, Thumzup, another Trump-linked company, to expand DOGE mining capacity. Together, these moves show a broader trend of Trump-affiliated digital asset entities building capital and infrastructure ahead of the 2026 election cycle.
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