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America First Audit

He said it in public. These are the documents on what happened next. Browse all records.

Why these cases

Trump sold “America First.” This record traces how public money, power, and risk moved toward family businesses, donors, favored firms, and foreign governments: and what workers, ranchers, retirees, patients, veterans, and small investors were left to absorb.

Said vs. done

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Case 185 of 254

TRUMP Token Fees, Withdrawals and Reported Royalties

Actions
reportedTrump announced and promoted the TRUMP token; its official offering allocated 80 percent of supply to CIC Digital and Fight Fight Fight under a release schedule.Associated PressRead record · 1 source
Outcomes
reportedReuters estimated $86 million to $100 million in trading fees during the token's first two weeks and said the allocation among Trump-linked entities and partners was not public.ReutersRead record · 1 sourcereportedA Center for American Progress wallet analysis estimated that addresses it classified as TRUMP insider wallets withdrew approximately $313 million in USDC after depositing TRUMP tokens into liquidity pools.Center for American ProgressRead record · 1 source
People and impacts
Who gained
  • Wallets classified as insider addresses by the cited analysis
  • Issuer and liquidity-provider fee accounts
  • Wallets classified as insider addresses by the cited analysis
  • CIC Digital LLC
Who paid or was affected
  • TRUMP token traders
  • TRUMP token traders
  • TRUMP token market counterparties

Amounts and affected parties

  1. feeTrump Token First Two Week Feesestimated $86 million-$100 million in trading fees
    Estimated fee payer / source
    TRUMP token traders
    Estimated fee recipient
    Issuer and liquidity-provider fee accounts
    estimated · 2025-02-03 · observedRead source record
    Calculation detailsPopulation TRUMP token traders; TRUMP token traders; Issuer and liquidity-provider fee accounts; Wallets classified as insider addresses by the cited analysis; Wallets classified as insider addresses by the cited analysis; TRUMP token market counterparties; CIC Digital LLCPeriod 2025-01-17 to 2025-01-31Basis Use Reuters' lower and upper estimates and display the $93 million midpoint without adding it to later measures.Limits Gross fees were split among trading venues, liquidity providers and issuer-linked entities under undisclosed allocations; this is not all Trump income.
  2. revenueTrump Token Insider Wallet Usdc Withdrawalsapproximately $313 million in USDC withdrawals
    Estimated revenue source
    TRUMP token market counterparties
    Estimated revenue recipient
    Wallets classified as insider addresses by the cited analysis
    estimated · 2026-05-05 · observedRead source record
    Calculation detailsPopulation TRUMP token traders; TRUMP token traders; Issuer and liquidity-provider fee accounts; Wallets classified as insider addresses by the cited analysis; Wallets classified as insider addresses by the cited analysis; TRUMP token market counterparties; CIC Digital LLCPeriod 2025-02-05 to 2026-05-05Basis Use the cited address-level analysis and retain its classification and transaction assumptions; do not add this gross withdrawal measure to fees or royalties.Limits Address classification is analyst-attributed; gross USDC withdrawals do not equal net profit and do not reveal every ultimate beneficial owner.
  3. revenueCic Digital Reported Royalties$635,068,835 in reported CIC Digital royalties
    Revenue recipient
    CIC Digital
    realized · 2026-06-30 · observedRead source record
    Calculation detailsPopulation TRUMP token traders; TRUMP token traders; Issuer and liquidity-provider fee accounts; Wallets classified as insider addresses by the cited analysis; Wallets classified as insider addresses by the cited analysis; TRUMP token market counterparties; CIC Digital LLCPeriod 2025-01-01 to 2025-12-31Basis Use the exact OGE disclosure line as a broader royalty-income context value; do not attribute it solely to TRUMP or add it to wallet and fee estimates.Limits The disclosure category includes NFTs and meme coins and does not identify counterparties, net profit, or the portion attributable to this token.
Promise and assessment
The promise
documentedTrump promised to make the United States the crypto capital of the planet and to install a crypto advisory council.Roll Call FactbaseRead record · 1 source

Promise unresolved

The token created large fee and withdrawal channels tied to issuer-designated wallets and a Trump-owned licensing entity, but the measures cover different periods and categories and cannot be added or treated as the same personal cash receipt.

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