and it is being investigated for ethics violations.
https://www.hsgac.senate.gov/wp-content/uploads/2025-05-06-Letter-from-Sen.-Richard-Blumenthal-to-Fight-Fight-Fight.pdf
Recent reports indicate that Fight Fight Fight LLC may be enabling the violation of government ethics requirements, facilitating financial transactions with foreign nationals under federal prosecution, and potentially violating federal laws, including with its promotional private dinner with President Trump scheduled to take place on May 22, 2025. I therefore write to
request information and records regarding the ownership and financial structure of Fight Fight Fight LLC, foreign investments in the $TRUMP coin, and the steps that you have taken to address the potential for significant conflicts of interest posed by this business venture.
On January 17, 2025, Fight Fight Fight LLC launched the “OFFICIAL TRUMP”
($TRUMP) cryptocurrency, a ‘meme coin’ (a type of asset purchased “for entertainment, social interaction, and cultural purposes” with its value “driven primarily by market demand and speculation” The $TRUMP website states in its disclaimers that the product is “not intended to be… an investment opportunity,” but rather “an expression of support for, and engagement with, the ideals and beliefs embodied by the symbol ‘$TRUMP’”—making it a Trump-endorsed cryptocurrency to demonstrate support for the President.
President Trump himself promoted the venture at the time of launch, and then on multiple occasions since, encouraged investors to “join my very special Trump Community.”
Within two days of launch, the price for $TRUMP had skyrocketed over ten times to $74.27.7 However, it fell again just as quickly, reaching as low as $7.42 by April 8.8 This activity mirrors a common pattern in the cryptocurrency market known as a “pump and dump,” “rug pull,” or “rug” whereby a select group of insiders makes a large profit off of a new crypto
before the price collapses. Indeed, the sale of $TRUMP prompted speculation that a select group of insiders gained early access to a lower price before the project was shared with the public.
In the face of dwindling value and steep losses for hundreds of thousands of investors, on April 23, Fight Fight Fight LLC announced a “Dinner with Trump" competition that promised an evening with the President to discuss cryptocurrency policy at Trump National Club in Washington, D.C. for the top 220 holders of its coin. In addition to the dinner, the promotion offered a “Special VIP White House Tour” for the top 25 holders, which was quietly revised to remove reference to the White House. The scheme to pump $TRUMP again after months of floundering worked. Within hours, its price rose more than 50 percent with a significant surge in trading volume, and remains near $11 (compared to its April low of $7.24).
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