The dinner invitation from Trump’s Virginia golf club has become the new darling of the coin circle — as long as you hold enough Trump tokens, you can dine with the former President of the United States.

However, Bloomberg's latest analysis has torn apart the veil of this 'digital feast': among the top 220 token holders, over 56% of wallet addresses come from offshore trading platforms that explicitly prohibit American users, turning a token carnival claiming to represent the 'American Dream' into a dark box game of international capital.

I. The 'nationality blind box' behind the dinner ticket

When the Trump team claimed on their official website that 'the top 25 holders will receive VIP treatment', they perhaps did not expect that blockchain would become the 'whistleblower'.

Through on-chain data analysis, it was found that among the top 25 'dinner candidates', only 6 wallet addresses used compliant platforms in the U.S., while the remaining 19 came from offshore exchanges like Binance, Bybit, and OKEx, which explicitly restrict American users. Even more astonishingly, 76% of the token value among the top 220 holders is controlled by overseas addresses; what was promised as 'America First' has ultimately turned into 'global vegetables' footing the bill.


This token marketing that began in 2023 can be described as a magical combination of politics and capital: the Trump team promised that holding tokens would not only allow participation in the 'presidential dinner' but also provide 'insider knowledge of policy trends'. However, the data reveals that the real 'players' are mostly international investors hiding behind VPNs — some rushed to buy on OKEx with Hong Kong IPs, others shopped on Binance with Singapore accounts, and even some Middle Eastern capital quietly entered through anonymous wallets. While American retail investors are still studying K-lines, overseas capital has already snatched their tickets with 'nationality disguise techniques'.

II. The 'lawless land' under regulatory vacuum

The 'dark history' of these offshore platforms casts a shadow over this feast: Binance once paid $4 billion to the U.S. due to anti-money laundering loopholes, OKEx was fined $420 million for regulatory violations, and Bybit has long operated in a regulatory gray area.

But ironically, it is precisely these platforms that have been heavily penalized by American regulatory authorities that have become the main circulation channels for Trump tokens. Even more bizarrely, after the Trump administration took office, the SEC cryptocurrency investigation team was disbanded, and the Justice Department's special cryptocurrency task force was officially dissolved in April 2024, clearing the obstacles for this 'carnival under regulatory vacuum'.


Blockchain entrepreneur Justin Sun has once again appeared in this farce. As an advisor to the World Liberty project, he once spent tens of millions of dollars purchasing tokens for the project, and he is now revealed to possibly be among the top ten holders of Trump tokens.

The HTX wallet address 'Sun' under his control began hoarding tokens worth $17.9 million as early as the beginning of 2024, even adding another $4.5 million investment during the dinner promotion period. While American retail investors are still debating 'whether Trump is anti-cryptocurrency', international capital has already woven a wealth network using 'political tokens'.

III. The new script of 'harvesting vegetables' in political NFTs

The core contradiction of this farce lies in: when political influence is explicitly priced as 'digital tokens', regulatory blind spots become the best cover. Although the companies controlled by the Trump family promised 'not to sell tokens for now', every fluctuation in token prices (such as the price skyrocketing from $9 to $14 after the dinner announcement) directly inflates their paper wealth.

More critically, the so-called 'KYC review' is rendered meaningless in the face of self-custody wallets — you never know if the 'mysterious investor' sitting next to Trump is a Middle Eastern oil tycoon or a Southeast Asian crypto speculator.


The concerns of Congressional Democrats are becoming reality: Accountable.US discovered that among the top 50 holders of Trump's other crypto project World Liberty, 22% used offshore platforms, and these 'invisible wealthy individuals' are indirectly buying opportunities to connect with the core of American politics through token price fluctuations.

When the slogan of 'America First' is paired with the bill of 'global vegetables', the carnival of this political Meme coin has essentially transformed into a new script of 'harvesting vegetables' under regulatory vacuum.

IV. When the presidential dinner is explicitly priced: Who has this farce awakened?

The 'overseas wealthy list' of Trump tokens reveals a cruel reality: in the world of cryptocurrency, nationality, regulation, and even political promises can be easily deconstructed by capital games. While American retail investors are still alarmed by fluctuations of a few thousand dollars, international capital has already built their 'digital privileged class' through offshore platforms, anonymous wallets, and policy loopholes.


What is even more alarming is that this 'political tokenization' is setting a dangerous precedent: if dining with the president can be explicitly priced as a digital asset, can policy tilt and regulatory leniency also become 'added value' of tokens? When the transparency of blockchain encounters the dark operations of political marketing, this carnival that began with a meme may ultimately evolve into 'black humor' in the history of regulation.


As of the time of writing, the Trump team has yet to respond to questions about 'how to review the identities of overseas investors', and platforms like Binance and Bybit have also remained silent on the issue of 'American users registering through detours'.

Perhaps, as blockchain analysts have said: 'When political influence becomes a tradable digital asset, the real regulatory targets are no longer the tokens themselves, but the powers and capital that are crazily testing the edges of the rules.'

This farce triggered by Trump Coin will eventually become another cautionary specimen in the history of cryptocurrency regulation — in the face of absolute interests, any slogan of 'America First' can turn into the sickle of 'global harvesting'.