Trump memecoin issuer pursues $200 million funding to build digital asset treasury: Bloomberg

Fight Fight Fight LLC, the crypto startup behind Donald Trump's memecoin, is seeking to raise at least $200 million in an attempt to establish a digital asset treasury (DAT) company for the memecoin, according to Bloomberg.

Bloomberg reported, citing sources familiar with the matter, that Fight Fight Fight is seeking to raise at least $200 million, with ambitions that could extend to as much as $1 billion, although the deal remains in development. The potential DAT company may accumulate the Trump memecoin, according to the report.

The Block has reached out to Fight Fight Fight and the White House for comment.

The Trump memecoin, which debuted days before Trump's second inauguration, soared to around $44 in January but has since declined to around $ 7.6 as of Wednesday, according to CoinGecko data. It was down 4.6% in the past 24 hours. The memecoin has a market capitalization of $1.5 billion and a fully diluted valuation of $7.6 billion, according to data.

Fight Fight Fight, led by Trump's long-time promoter Bill Zanker, has been at the center of various campaigns to sustain the token's visibility, including a May dinner with Trump for the top coinholders. 

Meanwhile, Alt5 Sigma, a Nasdaq-listed fintech firm, has already built a World Liberty Financial (WLFI) token treasury. World Liberty Financial is a crypto venture backed by the Donald Trump family. On Sept. 4, Alt5 Sigma disclosed that it held about $1.3 billion worth of WLFI.