Odaily Planet Daily News - Recently, U.S. President Trump has found himself in a public relations storm due to crypto-related activities. It has been disclosed that Trump plans to host two crypto-themed events in May: a dinner for the top 25 holders of the TRUMP memecoin on May 22, and a 'Crypto and AI Innovators Dinner' organized by MAGA Inc. Super PAC, with individual seats priced at a minimum of $1.5 million. This has raised concerns from several political figures, including Senator Elizabeth Warren, who believe this move could involve a trade-off of 'presidential privilege for commercial investment.' On-chain data shows that 80% of the supply of the TRUMP token is controlled by the Trump Group, which has transferred about $325 million to internal wallets through built-in mechanisms since its launch in January. Although industry lawyer Olta Andoni believes that this token 'is no different from other memecoins,' Wormhole legal advisor Cathy Yoon pointed out that this raises 'serious ethical issues.' In response to the concerns, Trump emphasized that he 'has not profited from it' and views the crypto industry as a strategic area of competition between the U.S. and China. The price of the TRUMP token soared by 50% after the announcement of the dinner, but Trump claimed to have 'no concept' of its valuation. (The Block)

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