Trump Coin dinner goes wildly wrong! Whales earn billions, small investors lose $760,000 in wallets

In May, news from the Crypto King’s official account reported that Trump's promise of a "dinner exclusive for 220 token holders" caused the $TRUMP token to surge 50% in the short term, with its market cap momentarily reaching a high of $27 billion, but it quickly plummeted, currently falling back to about $21.8 billion. Despite the intense speculation, small investors have become the biggest losers—Chainalysis data shows that as many as 762,000 wallets are in the red!

The real winners are the 58 early "whale wallets," with an average profit of over $10 million each, totaling profits exceeding $1.1 billion! Additionally, there are "new players" who withdrew millions in $TRUMP from Binance to gamble on the dinner opportunity, but they are already trapped in the quagmire of significant losses with a market cap in the tens of millions.

However, this mix of "politics + crypto" has also drawn regulatory attention. The Senate has now intervened to investigate, focusing on the dinner speculation, potential conflicts of interest related to the UAE fund and Sun Yuchen, among others. Trump is also hosting an AI + crypto dinner priced at up to $1.5 million per seat, sparking huge controversy over opaque donations.