The highest 220 buyers in President Donald Trump’s $TRUMP meme coin, collectively holding over $174 million price of tokens, are set to attend an unique dinner with the president on Might 22 at his Trump Nationwide Golf Membership in Virginia.
There shall be background checks that have to be accomplished earlier than the investor’s attendance is confirmed.
“The primary Competitors is formally over,” the challenge posted to X. “In the event you have been within the prime 220 on the leaderboard, verify the e-mail you signed up with for particulars on the Dinner with President Trump as quickly as doable. There shall be background checks that have to be accomplished earlier than your attendance is confirmed.”
This improvement was the fruits of Trump’s weekslong promotion of the competition, which has drawn allegations that he’s utilizing his place to counterpoint his household enterprise whereas opening himself as much as international affect.
The competition was stratospheric upon the meme coin’s introduction in January 2025, rapidly drawing merchants and Trump followers. The coin reached an all-time excessive of $75 as soon as earlier than dropping to round $12.63 not too long ago.
Contributors gambled round $148 million in an try to complete within the prime 220. Just a few million {dollars} have been spent to attain a spot on the dinner desk with Trump.
Lawmakers assault Trump’s pay-to-play crypto technique
Trump’s crypto enterprise has drawn criticism from Democrats, ethics watchdogs, and even the Securities and Change Fee over potential conflicts of curiosity and allegations of corruption. The competition to dine with the president has intensified these issues, making a bidding conflict for direct entry to the Head of State.
Senator Richard Blumenthal, Democrat of Connecticut, has written a letter to Struggle Struggle Struggle LLC, the corporate behind the coin, asking for solutions. He claims doable conflicts of curiosity and violations of federal regulation.
Blumenthal stated the occasion was not simply one other a kind of whacky crypto promotions however one thing that raised critical moral issues.
The dispute is especially heated as a result of a few of the largest buyers of the meme coin are stated to be from abroad. Reviews indicated that many wallets have been making large purchases by way of offshore crypto exchanges unavailable to US customers. This raised questions on cash from abroad gaining particular US entry to the president of the US.
Critics have voiced issues that the occasion might be skirting marketing campaign finance laws by providing invaluable entry to Trump in return for monetary contributions—albeit via unconventional means slightly than conventional marketing campaign donations.
Nonetheless, the Trump marketing campaign and the companies linked to it say they abide by all guidelines. A spokesman stated the president’s crypto property are in a belief managed by his kids and are separate from marketing campaign operations.
TRUMP coin reacts to NFT rewards and market surges
The $TRUMP cryptocurrency was created in mid-January and boasts a market capitalization of over $2bn after months of buyers shopping for into the closely promoted coin. A Trump family-linked firm and one other agency personal a majority of the cash.
The TRUMP meme coin challenge is teasing a further reward past the dinner — digital collectibles.
The challenge introduced that everybody who saved the identical variety of tokens as they’d on the finish of the competition would obtain a Trump Diamond Hand restricted version NFT, which is described as very particular and uncommon.
This information led to a different surge in worth, with some market watchers reporting a 71% rise in TRUMP’s worth on their phrases upon announcement. But, the token remains to be extraordinarily risky.
Crypto evaluation firm Chainalysis stated 58 TRUMP meme coin wallets have greater than $10 million in earnings per pockets. However there’s additionally been a draw back to the thrill. CNBC reported that some 764,000 wallets are underwater on the token.
The TRUMP coin was among the many meme-inspired political tokens that proliferated in a wave of hypothesis launched by Struggle Struggle Struggle LLC. It builds off the momentum of Trump’s current effort to courtroom youthful voters and digital-first supporters, nevertheless it additionally underscores simply how murky the world of crypto-politics might be.
