The cryptocurrency $TRUMP , linked to President Donald Trump, returned to the spotlight on Monday (28), after an announcement that shook the market.
Promising an exclusive dinner with the president, the memecoin recorded significant gains but also attracted criticism for potential ethical conflicts.
The movement reflects the volatility and impact of events associated with public figures in the crypto asset sector.
World Liberty Financial
Last week, World Liberty Financial, the company behind $TRUMP, announced a dinner in Washington, D.C., for the 220 largest token holders, scheduled for May 22.
The news boosted the price of the cryptocurrency by up to 71% in a single day, according to data from Chainalysis.
The Mercado Bitcoin platform, which lists the asset in Brazil, recorded an increase in trading volume, highlighting local interest.
Profits of about $900,000
On the other hand, the initiative generated profits of about $900,000 in trading fees for Trump and allies, as reported by NBC News.
The concentration of 60% of World Liberty Financial in the hands of the Trump family intensifies concerns about transparency and potential abuses of political influence.
Stablecoin and regulation in focus
In addition to the dinner, World Liberty Financial launched the stablecoin USD1, pegged to the dollar, on the Ethereum ($ETH ) and BNB Chain ($BNB ) blockchains.
With an initial offer of $3.5 million, the token aims to attract institutional investors but is still not tradable, according to Cointelegraph. The company raised $550 million in token sales by March 2024.
Regulatory scenario
In the regulatory scenario, the SEC's pause in actions against cryptocurrency companies, such as Ripple, suggests a more favorable environment under the Trump administration.
Legislative projects, such as the GENIUS Act, could consolidate stablecoins in the financial system by June, according to Reuters.
Critics, however, warn of the risks. The high concentration of crypto Trump (80% with affiliates of the Trump Organization) and family control raise concerns about market manipulation, according to CNN Brasil.
Sources: Cointelegraph, Investing.com, Reuters, Mercado Bitcoin
Note
Invest cautiously, using only capital that can be risked. Consult regulated exchanges, such as Mercado Bitcoin, for safe trading.
The information provided in this article is of a general nature and should not be interpreted as financial, legal, or professional advice.
Invest and make decisions cautiously, and consult qualified experts before acting. The cryptocurrency market is highly volatile and involves significant risks.