After a 90% plunge from its peak, the Trump memecoin issuer is seeking a revival with the Republic.com acquisition and a $200 million fund to buy back the token.
News
Fight Fight Fight, the company behind the President Donald Trump-linked memecoin, is reportedly in discussions to acquire the US operations of investment platform Republic.com.
If finalized, the deal could open the door for Republic users to transact using the Official Trump () memecoin, while giving crypto startups a new avenue to raise capital, Bloomberg on Wednesday, citing people familiar with the matter.
One source told the outlet that the discussions remain private but involve multiple potential partners. Fight Fight Fight and CIC Digital, an affiliate of The Trump Organization, collectively own 80% of the Trump memecoin.
Republic, which has facilitated more than 3,000 fundraising campaigns, serves both retail and accredited investors. Its backers include Galaxy Digital and the venture arm of Binance, per Bloomberg. The company has also embraced of real-world assets.
Related:
Trump memecoin’s $9 billion rise and fall
Launched in January ahead of Trump’s second inauguration, the TRUMP memecoin surged to a market capitalization of nearly $9 billion before plunging to around $1.64 billion, according to CoinMarketCap. The token is down nearly 90% from its all-time high.
Last week, it was reported that Fight Fight Fight is also seeking to for a digital asset treasury to accumulate the memecoin.
Yesterday, World Liberty Financial (WLFI), another crypto venture affiliated with Trump, announced plans to worth about $1.2 million to early participants in its USD1 stablecoin loyalty program.
Cointelegraph reached out to Fight Fight Fight and Republic for comment, but had not received a response by publication.
Related:
Coinbase acquires Echo
The Trump memecoin issuer’s plan to acquire Republic comes shortly after Coinbase deal to acquire onchain fundraising platform Echo.
Prominent crypto influencer Cobie Echo in beta in April 2024 with a mission to enable communities to invest together in private funding rounds.
In the eight months since launching, the platform has raised at least $51 million in funding, with 131 deals closed, including Ethena, a synthetic dollar protocol behind on the market, USDe ().
Magazine:
