The memecoin associated with US President Donald Trump is facing a significant funding challenge as its value has plummeted by 90% since its peak. The startup behind the token, Fight Fight Fight LLC, led by Trump ally Bill Zanker, is seeking at least $200 million to establish a digital-asset treasury aimed at purchasing back the plummeting token, according to Bloomberg reports on Wednesday. The deal, currently in early stages, could potentially reach up to $1 billion, but its realization remains uncertain. 2023 has been particularly challenging for the Official Trump (TRUMP) memecoin, which has fallen from its all-time high of $75 in January to around $8 according to CoinMarketCap data. This decline follows a series of attempts to revive the token’s price, and it remains down over 10% for the past month, as reported by Messari. The majority of the TRUMP token’s supply is currently available for trading, boasting a circulating market value of $1.5 billion according to CoinMarketCap data. A significant portion, approximately 65%, is held by Trump-affiliated entities and locked under vesting schedules. Amidst this tumultuous period, the memecoin’s fate has been intertwined with legal scrutiny surrounding events like Trump’s recent fundraising dinner featuring top holders. The event sparked protests alleging political profiteering. Additionally, questions about whether the use of a presidential seal during Trump’s speech at the dinner violates federal law have emerged. In August, ALT5 Sigma Corporation took a different approach, announcing plans to raise $1.5 billion via the sale of 200 million common shares at $7.50 each. These funds will be used to build a corporate treasury for its World Liberty Financial (WLFI) venture. The company recently implemented a token-burning strategy to reduce supply and boost the value of its tokens, with fees generated from WLFI-managed liquidity pools earmarked for this purpose. This approach further emphasizes Trump’s involvement in the memecoin space.