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Trump's private dinner for holders of the meme currency $TRUMP will likely include non-Americans
Summary:
A special dinner with President Donald Trump is scheduled for May 22 for holders of the top-rated meme currency $TRUMP . However, analysis shows that most of the major wallets associated with the currency are likely owned by non-Americans, as they use international exchange platforms like "Binance" that do not serve American clients.
One of the most prominent potential participants is "Justin Sun", the founder of the Tron network, who is believed to have purchased $75 million worth of the currency. Additionally, the "MemeCore" network in Singapore ranked second with an investment of $18 million. Data showed that around 560,000 wallets gained $5.2 billion, while about 593,000 wallets lost a total of $3.9 billion, indicating massive fluctuations in the market.
This situation has raised concerns among some politicians, such as Senator Richard Blumenthal, who warned that the Trump family's expansion into cryptocurrencies could create a backdoor for foreign influences. The American company Freight Technologies attempted to influence US-Mexico trade policy by purchasing $TRUMP currencies but did not qualify to attend the meeting.
President Donald Trump's dinner with major holders of his digital currency $TRUMP, scheduled for May 22, 2025, had no direct or significant impact on Bitcoin prices.
Limited impact on Bitcoin
Although the event generated widespread interest in the media and cryptocurrency markets, its impact on Bitcoin was limited. Bitcoin is now considered a major financial asset that is more affected by global economic policies, such as interest rates and inflation, rather than individual events linked to meme currencies or political figures.
Fluctuations in the $TRUMP currency
In contrast, the value of the trump currency experienced sharp fluctuations. After the announcement of the dinner, the currency's value rose by up to 50%, but it quickly retreated to stabilize around $12.86 later. This indicates that the event had a greater impact on the $TRUMP currency itself, without significantly extending its influence to Bitcoin or the broader cryptocurrency market.
Future Predictions
While Bitcoin continues to react to major economic factors, such as monetary policies and geopolitical tensions, it is unlikely that events like Trump’s dinner will significantly affect its price trends. Therefore, investors are advised to focus on broader economic indicators when evaluating Bitcoin's movements.
Transferred from CNbc magazine
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