Entities behind President Donald Trump’s crypto coin have accumulated close to $100 million in trading fees in less than two weeks, according to estimates from three blockchain analysis firms, a large windfall from a venture that has seen tens of thousands of small traders lose money.

The Trump-named cryptocurrency is valued at more than $6 billion after its first week, but it mimics moves made by ancient leaders.

President-elect Donald Trump has launched a new cryptocurrency token that's soaring in value and potentially boosting his net worth.

A TRUMP whale just made a killing, walking away with $11.87 million in profit after cashing out 637,000 tokens eight hours ago, according to on-chain data from Arkham Intelligence.

CIC Digital, a company owned by Trump, is one of the entities behind the coin. Its official website states that CIC Digital will receive trading revenue from the meme coin's activities. The exact portion of fees that may have gone to Trump personally, or the ownership details of the other entities involved, remain unclear.

President Donald Trump introduced his cryptocurrency just before his inauguration, the TRUMP coin, built on the Solana blockchain. Initially priced at around $3 per to

The launch of President Trump's meme token was met with mixed reactions among the crypto community. On one hand, Trump allied with crypto backers on the campaign trail, promising to cut back on legal challenges brought against crypto businesses and promote innovation in the United States.