Trump said on September 4 that he does not run or focus on « Solana coin, » though he had heard it sells very well. Clarification followed: the president was referring to physical $1 Trump-branded promotional tokens, not the Solana blockchain, the SOL token, or the $TRUMP meme coin. The $TRUMP meme token had launched on Solana in January 2025, reaching a fully diluted valuation of $75 billion before declining 95 to 97 percent from its peak. Trump-affiliated entities still collected approximately $636 million in royalties connected to the $TRUMP token during 2025. This episode highlights the asymmetry between insiders capturing value at launch and secondary market buyers absorbing losses over time.
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