$TRUMP
Trump has really done it this time!
Recently, he has been thrust into the spotlight due to a series of crypto-related activities.
According to reports, Trump plans to hold two crypto-related events in May. On May 22, he will host a dinner for the top 25 holders of the TRUMP meme coin; there will also be another event organized by the MAGA Inc. Super Political Action Committee called the 'Crypto and AI Innovators Dinner,' which has extremely high-priced seats, with a minimum of $1.5 million each.
Once this news broke, many officials couldn't sit still, with Senator Elizabeth Warren leading the charge in questioning, believing that Trump intends to exploit presidential privilege for personal gain through business investments.
On-chain data shows that 80% of the TRUMP token's supply is firmly controlled by the Trump organization. Since its launch in January, approximately $325 million has been transferred to internal wallets through built-in mechanisms. While industry lawyer Olta Antoni feels that this token is no different from other meme coins, Wormhole's legal advisor Cathy Yoon sharply pointed out that this raises serious ethical issues.
In response to the public's doubts, Trump quickly asserted that he hasn't profited from this and elevated the crypto industry to the level of a US-China competitive strategic field. Interestingly, as soon as the dinner news was announced, the price of the TRUMP token surged by 50%, yet Trump claimed he had no concept of the token's valuation. The relationship between Trump and cryptocurrency is increasingly perplexing!
