Trump’s Circle Holds $2.3 Trillion in Memecoins.

Trump’s Entourage Holds Billions in Memecoins, But Cashing Out Won’t Be Easy

On-chain data reveals that wallets likely controlled by members of Donald Trump’s entourage hold an enormous amount of paper wealth in memecoins, including the Official Trump (TRUMP) and Melania Meme (MELANIA) tokens. These tokens, which launched on Solana in the last few days, have surged in value, potentially yielding tens of billions in profits for the Trump family—at least on paper.

The TRUMP token, now trading at $42, has skyrocketed to an $8.8 billion market capitalization, making it the 25th-largest cryptocurrency, just behind established assets like Polkadot (DOT) and Litecoin (LTC). MELANIA has also performed well, reaching a $945 million market cap, positioning it at 121st among all tokens.

Holdings and Token Breakdown

According to on-chain data, the TRUMP treasury wallet holds an eye-popping $35.5 billion worth of TRUMP tokens, in addition to $17.5 billion in other memecoins tied to the Trump family, including tokens named after Eric Trump and Kai Trump. One of the wallets connected to the TRUMP launch contains $622 million in TRUMP and nearly $162 billion in various other coins, including a large portion of a memecoin named after Vice President J.D. Vance. Interestingly, Vance did not publicly announce the launch of his token.

The MELANIA token is held across multiple wallets, with about 77% of the supply being controlled by three wallets labeled as belonging to the Melania team on Solscan, in addition to a fourth wallet holding 3.7% of the supply. Together, these wallets are estimated to hold around $4.8 billion worth of MELANIA tokens.

The VANCE Token Connection

Two of the wallets managing the MELANIA supply—labeled Melania Treasury and Melania Liquidity—also hold $295 billion worth of VANCE tokens. Between these two wallets and the TRUMP launch wallet, about 25% of the total supply of VANCE tokens is controlled.

When you add up the holdings in just TRUMP and MELANIA, the Trump entourage holds approximately $40.9 billion on-chain. However, if you factor in the additional tokens, including VANCE, the total market value of their holdings could exceed $810 billion.

Challenges with Paper Wealth and Liquidity

Despite the enormous paper value of their holdings, the Trump team’s wealth is largely theoretical. Their wallets hold large portions of each token’s total supply, and if they try to liquidate their assets, the selling pressure could cause a sharp drop in prices. For example, they cannot expect to realize $35.5 billion in gains from a coin with an $8.8 billion market cap. Similar issues apply to MELANIA and VANCE.

Creating tokens is relatively cheap on networks like Solana. A project could create 1 trillion tokens, sell a few at $1 each, and technically claim a $1 trillion market cap, even if there is minimal actual market activity. VANCE, for example, has just over $2,000 in liquidity across two Solana-based pools, meaning it would be difficult to buy or sell large amounts without causing significant price fluctuations.

Vesting Periods Limit Immediate Profits

Both the TRUMP and MELANIA projects have vesting schedules that restrict immediate selling. The TRUMP team will have to wait at least three months before they can begin selling tokens, and even then, they will be able to sell only a small portion of their holdings at a time. The MELANIA project, meanwhile, will start unlocking tokens in less than 30 days, but again, the process will be gradual.

Although the Trump entourage’s holdings in these memecoins represent massive on-chain paper wealth, the actual ability to liquidate these assets is limited by the low liquidity of the tokens and the long vesting schedules. Therefore, while their token holdings appear lucrative, the practical value of these assets may be far less than the paper wealth suggests.