TL;DR
- The company behind Trump’s memecoin is negotiating to buy Republic.com.
- The acquisition would seek to boost the token’s use in investments.
- The token’s value rose to billions and then fell.
A company connected to a Donald Trump memecoin is currently in discussions to purchase the United States operations of the crowdfunding platform Republic.com. According to reports with knowledge of the matter, Fight Fight Fight LLC, the entity responsible for the token, is exploring the acquisition. These people asked not to be identified because the negotiations are private.
Should the deal proceed, it could lead to investors using the Trump-affiliated token for transactions. The arrangement would also assist cryptocurrency startups in securing funding. Republic is reportedly speaking with multiple potential partners. Both Fight Fight Fight and Republic did not provide comments in response to inquiries.
This development follows an announcement from Coinbase Global Inc., the largest US crypto exchange. Coinbase stated it will spend $375 million to acquire Echo, a platform for onchain capital raising. This activity occurs as a more accommodating US regulatory approach under the Trump administration is expected to attract crypto business ventures to the country.
The Trump memecoin first appeared in January, surprising many analysts
Its value increased rapidly, fueled by support from the president’s base during his return to power. The token also generated criticism from opponents, who expressed concern about potential conflicts of interest. They noted the possibility of anonymous parties purchasing the coin.
Data from CoinGecko shows the memecoin’s market value rose to almost $9 billion before falling sharply. In May, Fight Fight Fight organized a dinner for token holders, which the president attended. The event was viewed as an attempt to increase the token’s price and demand. The memecoin now holds a market value of approximately $1.6 billion.
Another digital token, WLFI, which was issued by a firm co-founded by the Trump family, has also lost value. CoinGecko data indicates it has declined about 40 percent since becoming available for trade in September.
Republic.com states on its website that it has facilitated over 3,000 fundraising efforts. The platform serves both accredited and retail investors, allowing them to fund small businesses. It also provides blockchain-based tokens that represent real-world assets like company shares and funds.
This process of converting physical assets into digital tokens is attracting attention from large financial institutions such as BlackRock Inc. Republic’s investors include Galaxy Digital and the venture capital division of Binance. President Trump recently issued a pardon to Changpeng Zhao, a co-founder of Binance.
Fight Fight Fight is attempting to find more applications for its memecoin. A small number of websites have started to accept it for payments. The potential acquisition of Republic could allow Fight Fight Fight to issue grants in the Trump token and let people invest in startups using the coin.
CIC Digital LLC, an affiliate of The Trump Organization, and Fight Fight Fight together own 80 percent of the memecoin. This ownership is governed by a three-year unlocking schedule. These entities also collect trading revenue from the token’s market activity.
