Trump’s Entourage Holds Trillions in Memecoins, But Liquidating Could Be Complicated
On-chain data reveals that wallets likely controlled by Donald Trump and his entourage hold staggering amounts of paper wealth in memecoins, particularly the Official Trump (TRUMP) and Melania Meme (MELANIA) tokens. Launched on the Solana blockchain just days ago, these tokens have seen a meteoric rise, potentially generating tens of billions in profits—at least on paper—for the Trump family.
The TRUMP token, currently trading at $42, has reached an $8.8 billion market cap, placing it among the top 25 largest cryptocurrencies, just behind prominent coins like Polkadot (DOT) and Litecoin (LTC). Meanwhile, MELANIA has surged to a market cap of $945 million, ranking 121st among all tokens.
On-Chain Holdings Breakdown
The TRUMP treasury wallet holds a massive $35.5 billion in TRUMP tokens, along with $17.5 billion in various other memecoins tied to Trump family members, such as Eric Trump and Kai Trump. One of the wallets tied to the TRUMP launch holds $622 million in TRUMP and nearly $162 billion in other tokens, including a significant amount of a memecoin associated with Vice President J.D. Vance—a launch that Vance did not publicly announce.
In contrast, the MELANIA token is distributed across several wallets, with 77% of the supply controlled by three wallets labeled as belonging to the Melania team on Solscan. A fourth wallet holds 3.7% of the supply. Together, these wallets hold an estimated $4.8 billion in MELANIA tokens.
The VANCE Token Connection
Interestingly, two of the MELANIA wallets, Melania Treasury and Melania Liquidity, also hold a combined $295 billion worth of VANCE tokens. These wallets, along with the TRUMP launch wallet, hold approximately 25% of the total VANCE token supply.
If you add up the holdings in TRUMP and MELANIA, the Trump entourage’s on-chain assets amount to $40.9 billion. Including the VANCE token, their total holdings could be worth around $810 billion.
Paper Wealth vs. Real-World Liquidity
Despite the eye-popping paper value, these holdings remain difficult to realize. The Trump family controls a huge portion of each token’s total supply, and if they attempt to sell their assets, the market would likely face significant selling pressure, causing prices to crash. For instance, the Trump team cannot expect to realize $35.5 billion from TRUMP, which has a market cap of just $8.8 billion. The same issues apply to MELANIA and VANCE tokens.
Memecoin market caps can be inflated with minimal actual market activity. For example, if 1 trillion tokens are created and a small portion is traded at $1 each, the market cap could theoretically reach $1 trillion, even with little trading. VANCE, which has only about $2,000 in liquidity across two Solana-based pools, illustrates how illiquid these markets can be.
Vesting Schedules Limit Immediate Profit-Taking
Additionally, both TRUMP and MELANIA tokens are subject to vesting schedules. This means that even though the Trump entourage holds billions in paper wealth, they won’t be able to cash out immediately. The TRUMP team will have to wait at least three months before they can start selling, and even then, they will be able to sell only small portions at a time. For MELANIA, token unlocking will begin in under 30 days, but the release will be gradual.
While the Trump entourage’s holdings in these memecoins represent an enormous on-chain paper value, their actual ability to liquidate these assets remains constrained by liquidity issues and vesting schedules. This means that despite holding billions in digital assets, their real-world value could be much less than what the numbers suggest.
