Exclusive dinner with Trump".. Top buyers of cryptocurrencies win a special night with the American president

The top 220 buyers of the cryptocurrency endorsed by Donald Trump won the chance to attend an exclusive dinner with the president yesterday, as a reward for putting money into the currency.

This was the culmination of Trump's promotional efforts, which lasted weeks for the competition, and raised accusations of him exploiting his position to enrich his family's business and exposing himself to foreign influence.

$TRUMP

TRUMP

15.77

+8.83%

TRUMPUSDT

Permanent

15.75

+8.69%

The cryptocurrency, called $TRUMP, was launched in mid-January and has a market value of over two billion dollars, after months of investor interest due to extensive promotion. A company linked to the Trump family and another partner company hold the majority of the coins, according to Reuters.

The announcement on Trump's website came out on Monday afternoon:

"Congratulations, if you are among the top 220 people on the leaderboard, we will contact you within the next 24 hours. Check your inbox (and spam folder) and expect a phone call inviting you to the official Trump dinner and its details."

He added: "President Trump will meet you on May 22 during the dinner ceremony in Washington, D.C.".. This was the text of the message sent to the winners with the opportunity to attend the exclusive dinner.

Trump's cryptocurrency project has drawn criticism from Democrats and ethical oversight bodies, as well as from the Securities and Exchange Commission, due to potential conflicts of interest and corruption allegations. The competition for dinner with the president has heightened these concerns, creating what resembles a struggle for direct access to the president.

The dinner will be held at Trump National Golf Club in Virginia, and will also include a very exclusive reception for VIPs with the president, reserved for the top 25 holders of the currency. The rules listed on the currency's website state that the currency buyer can send someone else in their place, and if they cannot attend, they can name a family member or friend to attend on their behalf.

Although the list of currency buyers is publicly available, it does not explicitly list the names of the winners, but only shows usernames and cryptocurrency wallet numbers of buyers, raising speculation about the competitors for a seat at the dinner and what political or financial interests they may have.

A Bloomberg analysis of cryptocurrency wallets showed that many of the top holders of Trump coins used foreign trading platforms that prohibit U.S. users from purchasing these coins. Democrats and government ethics groups have argued that this meme coin could allow foreign entities to buy influence with the president, prompting Richard Blumenthal, a senator from Connecticut, to open an ethical investigation into Trump's cryptocurrency-related activities.

Blumenthal wrote in a letter last week to Bill Zanker, whose name appeared in the founding documents of the sponsoring company Fight Fight Fight LLC:

"$TRUMP allows, and even invites, anyone in the world, including foreign governments and unscrupulous individuals, to enrich the president directly, while hiding potential gains in the pseudonymous identity of the blockchain."

For its part, the White House claimed that the auction, which Trump personally promoted through his platform 'Truth Social', would not influence the president's political choices. White House Press Secretary Caroline Levitt told reporters last week that Trump "complies with all conflict of interest laws" through his cryptocurrency-related ventures.

The price of the Trump coin has experienced sharp fluctuations since its launch on January 17. It initially rose to about $75 per coin before sharply declining in the following weeks, stabilizing at around $12 by the end of the auction. About 750,000 buyers lost their money in trading the coin, while top buyers spent millions of dollars to reach the top of the leaderboard.

The official website of the currency described this event as "an extremely important, highly secret event, attended by President Trump," adding: "If you have secured a seat at the table, it is due to your merit."

$TRUMP

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